IRS Estate Tax Audit

Oct 01, 2010

OUTCOME: No Change

Client estate had its federal estate tax return (Form 706) audited seeking multi-million dollar amount for unpaid estate tax. IRS asserted certain trust assets should be taxed as part of the estate, a ... nd estate disagreed. Upon appeal, we successfully argued that the trust assets were properly excluded from federal estate taxation, and the amount assessed by the IRS was reduced to zero resulting in a no change audit.