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IRS Valuation Too High In $15M Penalty Fight, Court Says

By Andrew Westney (August 4, 2014, 10:27 PM EDT) -- The U.S. Tax Court ruled Monday that the Internal Revenue Service used too high a value for stock in a family-run company in assessing a $15.3 million penalty on the estate of television magnate Franklin Adell for allegedly underpaying taxes, finding that the estate's original valuation of the stock was more accurate....

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