Friday, June 28, 2013
As I have previously discussed, the legal battle between the William Davidson's widow and son versus Jonathan Aaron, co-executor of Davidson's estate and president of the William Davidson foundation, and wife Mary continues. Forbes labeled Davidson was the 62nd most wealthy person in the U.S. so it is no wonder why his estate faces so many claims. In addition to the ongoing family legal battle, Davidson’s estate could possibly face a Tax Court judgment of up to $2.8 billion dollars in estate tax, gift tax, and penalties that the IRS is claiming the estate has not paid. Davidson’s estate lawyers filed a petition in Washington D.C. and are alleging that the IRS is wrongfully seeking the money. The IRS has declined to comment.
See Todd Spangler, Bill Davidson's Estate To Fight IRS Over Whopping $1.9 Billion Tax Bill, Detroit Free Press, Jun. 21, 2013.