IRS Challenges Gifts of Interests from FLP Owning Publicly Traded Stock: Decedent’s Estate Prevails
Henry & Horne has valued hundreds of Family Limited Partnerships (FLP’s) owning publicly traded stock such as the one described in the following case. The Tax Court’s decision in favor of the decedent’s estate should be very encouraging to U.S. taxpayers. In the case of Wimmer v. Commissioner, TC Memo 2012-157 the IRS asserted that …