Estate of Merwin v. Commissioner
United States Tax Court
P attempted to elect special use valuation, under sec. 2032A, I.R.C. 1954, on its estate tax return (Form 706) timely filed on July 16, 1985. Although the face of Form 706 referred to required agreements described in the Form 706 instructions, P did not attach a notice of election or a recapture agreement to the return.
Read the full summary
P attempted to elect special use valuation, under sec. 2032A, I.R.C. 1954, on its estate tax return (Form 706) timely filed on July 16, 1985. Although the face of Form 706 referred to required agreements described in the Form 706 instructions, P did not attach a notice of election or a recapture agreement to the return. Held, P did not substantially comply with the applicable regulations within the meaning of sec. 2032A(d)(3), I.R.C. 1954. Held, further, by failing to attach a recapture agreement, P did not provide substantially all the required information within the meaning of sec. 1421,…
1Opinion of the Court
OPINION
NlMS, Chief Judge:
Respondent determined a deficiency of $111,228 in petitioner’s Federal estate tax. The issue for decision is whether petitioner is entitled to value real property at its special use value pursuant to section 2032A. (Unless otherwise indicated, section references are to the Internal Revenue Code as amended and in effect at the date of decedent’s death. Rule references are to the Tax Court Rules of Practice and Procedure.)
The parties submitted this case fully stipulated. The stipulation of facts and the exhibits attached thereto are incorporated herein by this reference.
2Cases cited13 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Estate of Ralph D. Cowser, Deceased, Patricia Ann Tucker v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1984
- Lucille Prussner, as of the Estate of Aileen E. Pfeifer v. United StatesCourt of Appeals for the Seventh Circuit · 1990
- Estate of Cowser v. CommissionerUnited States Tax Court · 1983
- Estate of Gunland v. CommissionerUnited States Tax Court · 1987
8 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Estate of Doherty v. Comm'rUnited States Tax Court · 1990
- Elizabeth J. Bartlett, as of the Estate of Charles E. Grimes, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1991
- Lucas v. United StatesCourt of Appeals for the Eleventh Circuit · 1996
- Wilkes v. United StatesDistrict Court, M.D. Florida · 1999
- Estate of McAlpine v. CommissionerUnited States Tax Court · 1991
6 more not listed; retrieve them via the Exa API.