Document Type
Article
Publication Date
3-26-2012
Abstract
In Hendrix the Tax Court considered the issues of whether defined value clauses were the result of arm’s-length transactions and whether they were void as against public policy. The underlying dispute was whether the taxpayers’ transfers of the John H. Hendrix Co. stock were valued at fair market value. With a decision favoring the taxpayers, the defined value clauses in both McCord and Hendrix impede the accurate valuation of taxable gifts to family members and of deductible charitable gifts.
Recommended Citation
Defined Value Clauses and Fair Market Value, 134 Tax Notes 1685 (March 26, 2012)
Included in
Estates and Trusts Commons, Family Law Commons, Taxation-Federal Commons, Taxation-Federal Estate and Gift Commons, Tax Law Commons