IRS and Whitney Houston estate tangle over IP values
The IRS claims that the Whitney Houston estate underreported the value of intellectual property rights by $22.6 million.
Subsequent Transaction Too Remote to Allow for Reliable Valuation
In gift tax dispute involving decades-old transaction by a media magnate, Tax Court upholds IRS’s deficiency ruling and credits agency expert’s valuation of transferred stock based on a similar arm’s-length transaction occurring near the valuation date.
Redstone v. Commissioner
In gift tax dispute involving decades-old transaction by a media magnate, Tax Court upholds IRS’s deficiency ruling and credits agency expert’s valuation of transferred stock based on a similar arm’s-length transaction occurring near the valuation date.
IRS Valuation Training for Appeals Officers
Department of the Treasury Internal Revenue Service Valuation Training for Appeals Officers Coursebook This material was described specifically for training purposes only. Under no circumstances should the contents be used or cited as authority for setting or sustaining a technical position. Training 6126-002 (Rev. 05-97) TPDS 87221R Internal Revenue Service Mission The purpose of the IRS is to collect the proper amount of tax revenues at the least cost to the public, and in ...
Are Appraisers Liable to Third Parties for Errors?
Is a business appraiser liable for errors in its report to a third party?
In re Comdisco, Inc.
Is a business appraiser liable for errors in its report to a third party?
IRS proposes changes to Circular 230
I received the following notification from the IRS. Your readers might find it of interest. "The Service has announced that it intends to revise the standards for tax shelter opinio ...
ICBC 27th Annual National Conference
One of the most interesting presentation at the Institute of Certified Business Counselors 27th Annual National Conference ...
Uncompleted Contracts Not Included in Fair Value, Defined as Liquidation Value
The issue in this case was whether the trial court erred as a matter of law in confirming the award of the appraiser, where the appraiser did not include the estimated value of construction contracts that had not been completed as of the valuation date.
Candid presentation by IRS officials highlights IBA 2002 Conference
IBA 2002 Conference Tapes The tapes of the conference presentations are available from IBA for the following prices: $15 for each general session $75 for Track 1: Getting Started in Business Va ...
5th Circuit Remands Strangi to Consider § 2036 Claim
This case is the 5th Circuit's review of the Tax Court case, Estate of Strangi v. Commissioner, 115 T.C. No. 35 (U.S. Tax Ct. Nov. 30, 2000), abstracted in the January 2001 BVU.
Tax Court Accepts IRS Projections of Value Added Refund Income and Capital Expenditures
The issue in this case was the valuation of taxpayer Polack's gift of 1,040,000 shares of Zip Sort Inc. (ZSI) stock that he gifted to his children on Dec. 31, 1992 (260,000 of his nonvoting stock to each of his four children).