Tax Court judges may be open to tax-affecting business values
Moderator Jay Fishman (Financial Research Associates) took on the “puzzling, controversial” topic of tax-affecting with the panel of Tax Court judges in Part III of BVR’s Tax Summit last Friday, hosted by Georgetown Univ. Law Center. Although none of the judges has presided over a case in which the issue came up—“I’m looking forward to it,” [...]
Tax Court accepts taxpayer’s dollar-for-dollar discount for built-in capital gains tax liability (sort of. . . )
A wealthy New Yorker owned the majority (82%) of a closely held C Corp, which in turned owned 94 acres of lake front property in New Hampshire, including state-of-the-art athletic facilities, horse stables, and a summer camp for girls. When the owner died, the estate’s appraiser determined a net asset (adjusted book) value for the [...]
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