Estate of Aaron Jones v. Commissioner
In gift tax dispute, Tax Court adopts estate expert’s valuation of two related PTEs, including expert’s tax affecting; court distinguishes Gross and later cases; issue is not whether to tax affect but how; estate expert’s tax affecting was “more accurate than [IRS’] blunt zero-rate approach.”
Keeping Gross Alive, Nimble Tax Court Accepts PTE Tax Affecting
In gift tax dispute, Tax Court adopts estate expert’s valuation of two related PTEs, including expert’s tax affecting; court distinguishes Gross and later cases; issue is not whether to tax affect but how; estate expert’s tax affecting was “more accurate than [IRS’] blunt zero-rate approach.”
Always Verify Client-Provided Financial Information
Appellate court affirms trial court finding that expert who relied on “estimates” of asset value, provided by the husband with an unreliable memory, was not credible.
Campbell v. Campbell
Appellate court affirms trial court finding that expert who relied on “estimates” of asset value, provided by the husband with an unreliable memory, was not credible.
Melinda McNeel-Seitz v. Robert M. Seitz
The Mississippi Court of Appeals reversed the lower court's decision limiting the testimony of wife's expert to that of a CPA.
Qualified Expert Testimony Must Be Accepted After Proffer Is Presented
The Mississippi Court of Appeals reversed the lower court's decision limiting the testimony of wife's expert to that of a CPA.
Cecil Wayne Craft v. Patricia Carol Craft
The Tennessee Court of Appeals affirmed the trial court's valuation of the parties' sawmill and pallet manufacturing company. It accepted the value proposed by the wife's expert in its entirety. This expert used a weighted combination of the net asset l ...
Expert Valuation Is Basis for Award
The Tennessee Court of Appeals affirmed the trial court's valuation of the parties' sawmill and pallet manufacturing company. It accepted the value proposed by the wife's expert in its entirety. This expert used a weighted combination of the net asset l ...
Court Awards 30% Discount for Lack of Marketability
The taxpayer's motion for administrative cost recovery was the basis of this case.
Thompson, L v. Commissioner
At issue is the valuation of the plaintiff's stock in harwood sawmill company for federal gift tax purposes.