Tax Court Sends Message on Valuation in Richmond
Kerry A. Ryan
Saint Louis University School of Law
March 24, 2014
Tax Notes, Vol. 142, No. 12, March 24, 2014
Saint Louis U. Legal Studies Research Paper No. 2014-10
In Estate of Helen P. Richmond, the Tax Court determined the proper value for estate tax purposes of a minority interest in a family-owned corporation holding mostly appreciated securities. The court also sustained an accuracy-related penalty against the estate, finding that it used an unsigned draft report by a noncertified appraiser as the basis for the stock valuation reported on Form 706.
Number of Pages in PDF File: 5
Keywords: estate tax, BICG tax liability, valuation discount, stock valuation, built-in capital gains tax liability, estate tax valuation penalty, accuracy-related penalty
JEL Classification: E62, H2, K34
Date posted: April 8, 2014 ; Last revised: May 23, 2014
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