A Gift for Taxpayers and FLPs?
The Tax Court in this gift tax case has issued the first guidance on some of the tax issues facing family limited partnerships (FLPs).
Kerr v. Commissioner (I)
At issue is the valuation of the FLP interests for federal gift tax purposes.
Taxpayers Transferred FLP Interests in Form and Substance
The Tax Court has issued the first guidance on some of the tax issues facing family limited partnerships (FLPs) in this gift tax case.
FLP’s Liquidation Provisions Must Be Considered When They Are Not More Restrictive Than State Law
The Tax Court granted the Kerrs' motion for summary judgment.