In Holliday v. Commissioner, the IRS found an $800,000 deficiency in Holliday’s estate taxes. The issue pertains to whether or not an asset the decedent transferred to Oak Capital Partners LP, is includable in the value of her gross estate pursuant. The court held that the value of the assets is includable in the value of the gross estate.
Find the case here
Posted by Pooja Shivaprasad, Associate Editor, Wealth Strategies Journal