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This page contains a single entry by Associate Editor published on June 21, 2011 1:45 PM.

PLR 201124003: Couple Granted Extension To Elect Out Of Automatic Generation-Skipping Transfer Tax Exemption Allocation was the previous entry in this blog.

Tax Notes Article by Patricia A. Thompson, "AICPA Calls on FINCEN to Eliminate Some Prior Year FBAR Filing Requirements" is the next entry in this blog.

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Tax Notes Article by Elizabeth Crewson Paris, "S corp stock valuation formulas valid, tax court holds"

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Associate Editor
on June 21, 2011 TrackBacks (0) Comments (0)

The parties in Hendrix v. C.I.R. disputed whether defined value formula clauses set the fair market value of stock to various family trusts and to a charitable foundation.  The Tax Court decided tht the formula clauses were reached at arm's length and are not void as contrary to public policy.  Therefore, the formula clauses set the applicable value. 

"See, S Corp Stock Valuation Formulas Valid, Tax Court Holds, 2011 TNT 116-13"

Posted by Adam Fleischer, Associate Editor, Wealth Strategies Journal

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