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Tax Court Sends Message on Valuation in Richmond

5 Pages Posted: 8 Apr 2014 Last revised: 23 May 2014

Kerry A. Ryan

Saint Louis University School of Law

Date Written: March 24, 2014

Abstract

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.

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

Suggested Citation

Ryan, Kerry A., Tax Court Sends Message on Valuation in Richmond (March 24, 2014). Tax Notes, Vol. 142, No. 12, March 24, 2014; Saint Louis U. Legal Studies Research Paper No. 2014-10. Available at SSRN: https://ssrn.com/abstract=2421301

Kerry A. Ryan (Contact Author)

Saint Louis University School of Law ( email )

100 N. Tucker Blvd.
St. Louis, MO 63101
United States
3149777237 (Phone)
3149773332 (Fax)

HOME PAGE: http://law.slu.edu/

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