Estate Tax Audits And Disputes
While the number of estate tax audits has dwindled due to the unlimited marital deduction and a substantial increase in the federal estate tax exemption, issues such as valuation of real estate, artwork and other property could still lead to disputes with the Internal Revenue Service.
The attorneys of Cox Padmore Skolnik & Shakarchy LLP (CPS&S) have extensive experience representing estates in state and federal audits of estate tax returns. Contact us today to learn more about how we can help with your estate planning needs. We have offices in Manhattan, as well as locations in Denver and New Jersey.
Comprehensive Knowledge Of Estate Tax Laws
The following are examples of issues that may be disputed in estate tax returns:
- Valuation of closely held businesses
- Valuation of real estate
- Other assets that are difficult to value, such as artwork, copyrights and collectibles
- Discounts for minority and other fractional interests in assets
- Inclusion in the gross estate of trusts with retained interests
- Transactions involving wealth-planning devices, such as family limited partnerships
- Inclusion in the gross estate of intra-family loans
- Appropriateness and extent of deductions
The lawyers of CPS&S are able to resolve issues such as the above through extensive experience and expertise in the estate tax laws and handling estate tax audits.
In many cases, our lawyers are able to resolve the issues by supplying tax authorities with more detailed explanations and documentation. Our experience in representing beneficiaries in estate tax audits helps us advise clients concerning the defensibility of their estate tax planning strategy.
Consult Our Estate Tax Audit Attorneys
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