Document Type
Article
Publication Date
2015
Keywords
Gift tax, estate tax, gift, estate, tax, merger, estate planning, penalties, valuation
Abstract
In Cavallaro v. Commissioner, the Tax Court held that a merger of two family-owned businesses resulted in a substantial taxable gift. The taxpayers avoided penalties by demonstrating that they relied in good faith on the mistaken advice of competent tax advisers.
Recommended Citation
Ryan, Kerry A., Merger is Indirect Gift in Cavallaro (January 19, 2015). Tax Notes, Vol. 146, No. 1, 2015.