Thursday, April 10, 2014
Kerry A. Ryan (Saint Louis University School of Law) recently published an article entitled, Tax Court Sends Message on Valuation in Richmond, Tax Notes, Vol. 142, No. 12, March 24, 2014. Provided below is the abstract from SSRN:
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.