Estate of Eddy v. Commissioner
United States Tax Court
The executor filed the Federal estate tax return in this case more than 18 months after the time prescribed by law (including extensions) for filing the return. The value of all property included in the gross estate was reported on the return as of the sec. 2032(a), I.R.C., alternate valuation date. R determined that decedent's gross estate must be valued as of the date of decedent's death, because the executor's alternate valuation election was invalid.
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The executor filed the Federal estate tax return in this case more than 18 months after the time prescribed by law (including extensions) for filing the return. The value of all property included in the gross estate was reported on the return as of the sec. 2032(a), I.R.C., alternate valuation date. R determined that decedent's gross estate must be valued as of the date of decedent's death, because the executor's alternate valuation election was invalid. Furthermore, R determined that the estate is liable for the addition to tax under sec. 6651(a), I.R.C., for the failure to file a timely…
1Opinion of the Court
OPINION
Parr, Judge:
Respondent determined a deficiency of $421,214 in the estate’s Federal estate tax and an addition to tax of $58,450 for the failure to file the estate tax return timely.
After concessions,1 the issues for decision are: (1) Whether, despite the executor’s failure to make the alternate valuation election pursuant to section 2032 within 1 year after the time prescribed by law (including extensions) for filing the Federal estate tax return, the value of the gross estate may be determined by valuing all the property included in the gross estate as of the alternate valuation…
2Cases cited11 opinions
- United States v. BoyleSupreme Court of the United States · 1985
- Nelson M. Blohm and Joann M. Blohm v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1993
- Estate of Frank Duttenhofer, Deceased, Albert J. Uhlenbrock and William Duttenhofer, Co-Executors v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1969
- Southeastern Finance Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1946
- Duttenhofer v. CommissionerUnited States Tax Court · 1967
6 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Estate of Charania v. Comm'rUnited States Tax Court · 2009
- BLANKSON v. COMMISSIONERUnited States Tax Court · 2003
- BURR v. COMMISSIONERUnited States Tax Court · 2002
- Duby v. Comm'rUnited States Tax Court · 2003
- Estate of Charania v. Comm'rUnited States Tax Court · 2009
6 more not listed; retrieve them via the Exa API.