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Estate of Eva Kollsman v. CIR
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September 10, 2018
Estate Asks 9th Circ. To Blot Tax Court Painting Valuations
The estate of a deceased woman urged the Ninth Circuit to reverse a U.S. Tax Court finding of a tax deficiency of about $585,000, arguing the lower court did not apply the proper legal standard in determining the fair market value of two 17th century paintings.
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July 19, 2018
IRS Tells 9th Circ. Tax Court Correctly Valued Estate's Art
The Internal Revenue Service told the Ninth Circuit that the U.S. Tax Court did not err in valuing two 17th century paintings at a total of $2.4 million, which resulted in a proper finding of an estate tax deficiency of more than $585,000.