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bookerbrady37: The conventional estate tax legislation did not permit the deduction of detrimental partnership interests from positive partnership interests so a substantial estate tax was due. The estate did not have the funds to pay out the tax and I was...
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The conventional estate tax legislation did not permit the deduction of detrimental partnership interests from positive partnership interests so a substantial estate tax was due. The estate did not have the funds to pay out the tax and I was engaged to get ready the estate tax return demonstrating no tax due. It looked extremely hard but I arrived up with a credible and novel theory so that the return could be prepared to show no estate tax was because of. This averted a fiscal catastrophe and allowed the a few jobs in building to get accomplished and allowed the beneficiaries to inherit an estate really worth millions of money. The IRS of course disagreed and took the estate to the U. S. Tax Court. I settled this scenario many years later making use of the novel theory with no estate tax due.
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