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IRS Calls $50M In Tax Assessments On Estate 'Protective'

By Jimmy Hoover (March 23, 2017, 3:09 PM EDT) -- The IRS has admitted to the U.S. Tax Court that it assessed $50 million in taxes plus interest against the estate of charcoal tycoon James P. Keeter only as a "protective" measure in ongoing litigation over allegedly sham tax shelters and that it would happily freeze the assessments if the court finds that the agency's earlier deficiency notices in the dispute were valid....

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