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Tax Court digs the knife in deeper in bad family limited partnership case
Today we learn from a supplemental opinion to Turner v. Commissioner, TC Memo 2011-209 Aug 30, 2011 (Estate of Turner I), that a marital deduction is not available when § 2036 is deemed to pull assets back into the estate, but the assets aren’t actually there to …
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Another Taxpayer Victory in a Family Limited Partnership Case
On February 3, 2010, the Tax Court released it’s decision in Estate of Shurtz v. Commissioner, This case is interesting for a number of reasons. First, even though it involves a family limited partnership, the case is not about the estate taking substantial discounts. In fact, the …
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Estate of Jorgensen v. Commissioner: IRS wins another Family Limited Partnership Case due to the Taxpayer Doing Everything Wrong
In writing a blog, or in writing anything, the most important question is "Who is your audience?" So far, my posts have been aimed towards what I call "the sophisticated layman." I have been writing for the educated reader who is not an expert in …
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