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Earlier this month the PGDC reported on Joseph Mohamed Sr. et ux. v .Commissioner in which a couple's income tax charitable deductions for tranfers of several valuable parcels of real property to a charitable remainder unitrust were denied...

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In a highly publicized and controversial donor intent case that has been going on for several years, the Maryland Court of Appeals, Maryland's highest court, has issued an Order in which it has refused to hear an appeal brought by a deceased donor's family against...

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A recent court case holds in favor of a non-profit's rights to keep the names of donors private under the First Amendment.
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The U.S. District Court has again reminded us why it is so important for estate planners to understand the critical role that qualified testamentary charitable remainder trusts play in securing the estate tax charitable deduction.
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19 Nov 1998 | U.S. Tax Court | National Publication | News story
In Sessions v. Commissioner, the Tax Court reviews the methodology and conclusions of the IRS's valuation expert and the taxpayers' valuation expert and then reaches its own conclusions as to the valuation of real estate contributed to charity.
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In Hewitt v. Commissioner, the Fourth Circuit affirmed the Tax Court's conclusion that a charitable deduction associated with a gift of nonpublicly traded stock was limited to the donor's tax basis in the stock.
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26 Jan 1999 | Judicial | National Publication | News story
In an AOD 1999-001, the IRS has acquiesced to the Second Circuit's ruling in Eisenberg v. Commissioner, 155 F.3d 50 (1998), which held that when valuing closely held stock which is the subject of a gift, an adjustment for potential capital gains tax liabilities should...
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12 Feb 1999 | U.S. Tax Court | National Publication | News story
In Jameson v. C.I.R., this Tax Court Memorandum decision finds that a decedent's closely held corporate stock should be valued as a holding company interest.
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12 Feb 1999 | U.S. Tax Court | National Publication | News story
In a Memorandum decision, the Tax Court accepts the opinion of the IRS' expert on the blockage discount applicable to a decedent's publicly-traded stock.
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The Seventh Circuit surprisingly reversed the Tax Court's finding that United Cancer Council, Inc. had violated the prohibition against private inurement.
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18 Feb 1999 | U.S. Tax Court | National Publication | News story
In this Tax Court Memorandum decision, the court holds that a decedent's charitable deduction is reduced by estate and inheritance taxes.
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In Museum of Flight Foundation v. U.S.A., a U.S. District Court held that income from the lease of a donated aircraft over a period of two years back to its donor does not constitute unrelated business taxable income.
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In Gomez v. Commissioner, the Tax Court has upheld the IRS' notice of deficiency which disallowed a charitable contribution deduction due to a lack of substantiation and allowed the imposition of a 20-percent penalty on the underpayment of the tax attributable to...
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In, Ferguson v. Commissioner, the Ninth Circuit affirms the Tax Court's decision and adopts the "anticipatory assignment of income" doctrine.
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In The Fund for Anonymous Gifts v. IRS, 83 AFTR2d Par. 99-654, the D.C. Circuit Court of Appeals vacated the District Court's decision and ordered the District Court to enter summary judgment in favor of the charity on its section 501(c)(3) status.
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In Crestar Bank, et al. v. IRS, et al., a U.S. District Court held that an estate is not entitled to an income tax deduction pursuant to section 642(c) of the Code for the value of stock donated to a charitable trust because the estate did not pay an amount of its "...
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In, Estate of Kenneth E. Starkey v. United States, 83 AFTR2d Par. 99-843, a U.S. District Court granted the United States summary judgment and held that the testamentary trust created by a Decedent's will did not qualify for a charitable deduction under section 2055 of...
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In "In Re: James A. Smihula, et ux.," a United States Bankruptcy Court dismissed an attempt to convert a Chapter 13 bankruptcy into a Chapter 7 bankruptcy on the basis of a post-petition desire to give to charity.
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24 Jun 1999 | U.S. Tax Court | National Publication | News story
In William N. Kellahan Jr., et ux v. Commissioner; T.C. Memo. 1999-210, the Tax Court held in part that fair market value of real property for which the petitioners claimed a charitable contribution deduction was closer to the Service's estimate and sustained the...
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In Leonard Greene, et ux. v. United States, 84 AFTR2d Par. 99-5108, No. 98-6038 (July 23, 1999), Leonard and Joyce Greene made gifts to charity of the long-term capital gains portion of futures contracts. The United States Court of Appeals for the Second Circuit held...
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