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Tax Court Validates Defined Value Clause for Interfamily Transfers

Posted 12:00 AM by

In a big win for the taxpayer – and for estate and gift tax professionals – the Tax Court resoundingly rejected the Internal Revenue Service's (IRS) three arguments against defined value clauses, even in cases involving interfamily transfers. In its decision, the court also provided what amounts to a four-part "blueprint" for drafting successful formula clauses in the future. Read more

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