Tax
May 11, 2016
Battle continues over how post-death events affect value
One of the most common arguments between taxpayers and the IRS continues to be how post-mortem events affect an asset's value in a decedent's estate. By Bruce Givner and Owen Kaye
The modern estate tax was enacted in 1916. Originally it was based on the date of death value of the decedent's assets. However, when the 1929 stock market crash occurred, Congress enacted an "alternate" valuation date: six months after death. This was to allow a downward adjustment in an estate's value and, therefore, a downward adjustment in estate tax, to reflect a post-death reduction in asset value due to fact...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In