Tax Cases

RECENT ESTATE AND GIFT TAX BUSINESS VALUATION CASES

The following is a partial list of many of the most recent Estate and Gift Tax cases involving valuation issues. Many are cited in various aspects of our work, and provide the legal basis for various valuation methodology used and to determine applicable discounts.

In the past we provided internet links to many of these cases, but the various URL addresses were constantly changing and difficult to keep current. To obtain more information on these cases you can call our office or simply Google the name of each case for additional information.


2006:


Dallas v. Commissioner

T.C. Memo 2006-212, September 28, 2006
Issues: Tax-Affecting S Corporation Earnings, Discount for Lack of Marketability, Self Cancelling Installment Note, Arm's Length Family Member Sales


Kohler v. Commissioner

T.C. Memo 2006-152, July 25, 2006
Issues: Burden of Proof, USPAP, Alternate Valuation Date, Dividend Method


Huber v. Commissioner

T.C. Memo 2006-96, United States Tax Court, 5/9/06
Issues: Arm's Length Price, Shareholder Transactions, Estate and Gift,
Negotiation

2005:


Estate of Blount v. Commissioner

U.S. Tax Court No. 540-02, Court of Appeals for the Eleventh Circuit
Issues: Buy-Sell Agreement, Life Insurance Proceeds


Estate of Kelley v. Commissioner

T.C. Memo 2005-235, United States Tax Court, 10/11/05
Issues: Limited Partnership, Marketable Securities, Discount for Lack of Control, Discount for Lack of Marketability


Estate of Strangi Appeal

No. 03-60992, United States Court of Appeals for the FifthCircuit, 7/15/05
Issues: Family Limited Partnerships, I.R.C. 2036(a)


Estate of Jelke v. Commissioner

T.C. Memo 2005-131, United States Tax Court, 5/31/05
Issues: C Corporation, Built-in Gain, Marketable Securities, Discount for Lack of Control, Discount for Lack of Marketability


Estate of Bongard v. Commissioner

124 T.C. No. 8, United States Tax Court, 3/15/05
Issues: 2036(a) and 2038


2004:


Betsy T. Turner, Executrix of the Estate of Theodore Thompson, Deceased v. Commissioner

No. 03-3173, United States Court of Appeals for the Third Circuit, 9/1/04
Issues: 2036(a)


Estate of Thompson

T.C. Memo 2004-174, 7/26/04
Issues: Capitalization Rate, Appraiser Errors, Lack of Control, Lack of Marketability, Understatement Penalty

Kimbell v. United States (Appeal)

United States Court of Appeals for the Fifth Circuit, 5/20/04
Issues: § 2036


Estate of Blount

T.C. Memo 2004-116, 5/12/04
Issues: § 2703, Non-Operating Assets, Life Insurance Proceeds


Estate of Lea K. Hillgren

T.C. Memo 2004-46, 3/3/04
Issues: § 2036, Business Loan Agreement, Business Purpose, Discount for Lack of Voting Rights, Discount for Lack of Control, Discount for Lack of Marketability


Peter S. Peracchio v. Commissioner

US Tax Court, T.C. Memo 2003-280, 9/25/03
Issues: FLP, Marketable Securities, Discount for Lack of Control, Discount for Lack of Marketability, Closed End Mutual Funds


Estate of Helen A. Deputy v. Commissioner

US Tax Court, T.C. Memo 2003-176, 6/13/03
Issues: Minority Discount, Marketability Discount, Intangible Assets, Capitalization Rate, Burden of Proof


Charles T. McCord, Jr. and Mary S. McCord v. Commissioner

US Tax Court, 120 T.C. No. 13, 5/14/03
Issues: Minority Discount, Marketability Discount, Pre-IPO Studies, Formula Clause, Charitable Donation


David A. Kimbell Sr., et al. v. United States

US Dist Court N Dist Texas, No. 7:01-CV-0218-R, 1/14/03
Issues: IRC § 2036, Family Limited Partnership, Bona Fide Sale, Retained Income or Rights


Estate of Thompson v. Commissioner

T.C. Memo. 2002-246, 9/26/02
Issues: IRS successful challenge, Limited Partnerships, I.R.C 2036(a)


Okerlund v. U.S.

United States Court of Federal Claims, Consolidated Nos. 99-133T & 99-134T, 8/23/02
Issues: Daubert Challenge, Market Approach, Income Approach, Discount for Nonvoting Stock, Discount for Lack of Marketability


Estate of Harper

T.C. Memo 2002-121, 5/15/02
Issues: Family Limited Partnership


Estate of Heck

T.C. Memo. 2002-34 2/05/02
Issues: Minority Interest, S Corporation, Tax Affecting Earnings, Market Approach, Income Approach, Non-Operating Assets


2001:


Gross v. Commissioner

US Court of Appeals Sixth Circuit 11/19/01
Issues: S Corporations, Tax Affecting Earnings, Discount for Lack of Marketability, Daubert Challenge


Dailey v. Commissioner

T.C. Memo. 2001-263, 10/03/01
Issues: Family Limited Partnership, Marketable Securities, Appreciated Assets, Burden of Proof


Estate of Simplot v. Commissioner

Ninth Circuit Court Case 5/14/01
Issues: Voting Stock, Hypothetical Willing Buyer


Estate of Mitchell v. Commissioner

Ninth Circuit Court Case 5/2/01
Issues: Failure of Tax Court to Explain its Value Calculation, Burden of Proof, Discounts


2000:


Estate of Strangi

Tax Court Case 11/30/00
Issues: Deathbed Family Limited Partnership


Shepherd v. Commissioner

Tax Court Case 10/26/00
Issues: Family Partnership


Estate of Harper

Tax Court Case 6/30/00
Issues: Family Limited Partnerships

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