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Estate Says IRS Wrongly Painted Art Deal As Profitable

By Michael Macagnone (June 20, 2016, 4:30 PM EDT) -- A banker's estate told a Texas federal judge that it wrongly paid $40.7 million in taxes and deserves a refund, arguing the Internal Revenue Service has admitted the estate did not actually make any money from supposedly distributing more than $140 million worth of art....

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