Tax Court Sends Message on Valuation in Richmond

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

See all articles by Kerry A. Ryan

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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