Handling estate tax disputes with the IRS

Article Abstract:

Estate planners have various options to pursue in federal estate tax conflicts. These problems arise when an audit does not resolve all of the IRS examiner's issues. A written protest is a first step, and different appeals processes can follow. Settlement is one conclusion to the process, while litigation is another result. Barring protest, payment followed by a refund claim is another technique, and this may also lead to litigation. Three federal courts comprise the first level of litigation, with two possible appellate courts above those, and an ending at the Supreme Court.

Commercial Banks, Estate Planning, Trust, Fiduciary, and Custody Activities, Estate & Tax Planning, Methods, United States, Management, Tax appeals

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Planning opportunities for notes receivable in an estate

Article Abstract:

The value of notes receivable by an estate for estate tax purposes is usually calculated as the unpaid principle of the note plus interest. However, some cases have allowed notes to be valued at lower amounts under some conditions. These cases are reviewed.

Legal issues & crime, Government regulation (cont), Government regulation, Legal/Government Regulation, Capital funds & cash flow, Laws, regulations and rules, Decedents' estates, Valuation, Promissory notes

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