Date of Decision:  August 4, 2014

Court:  United States Tax Court

Key Issues:

The estate and the IRS introduced several wildly divergent valuations of the decedent’s 100% interest in a C corporation. The court criticized the estate’s “conflicting expert reports and three different values” of the decedent’s business interest. The court adopted the valuation the estate submitted with its original Form 706 filing and rejected the estate’s efforts to substitute it with a subsequent lower valuation.

Link to Court Opinion