James Tinnell v. CIR
The U.S. Tax Court determined a taxpayer liable for accuracy related penalties when he failed to disclose his application of a lack of marketability discount in a disclosure form 8275. The court found that the plaintiff did not have the stock valued or re ...
Restricted Stock Discount Must Be Adequately Disclosed
The U.S. Tax Court determined a taxpayer liable for accuracy-related penalties when he failed to disclose his application of a lack of marketability discount in a disclosure form 8275.
Theodore W. Van Zelst, et al. v. CIR
The U.S. Court of Appeals for the Seventh Circuit rejected the donor's charitable deduction for the value of property and mineral rights in Alaska. The donor argued that the property, which he purchased for $30,000, had a value of $2.75 million as a luxu ...
Court Critical of Appraisals Based on Unreasonable Hypothetical Uses
The U.S. Court of Appeals for the Seventh Circuit rejected the donor's charitable deduction for the value of property and mineral rights in Alaska. The donor argued that the property, which he purchased for $30,000, had a value of $2.75 million as a luxu ...