Author Archives: David L. Silverman, J.D., LL.M. (Taxation)

The Tax Court, in a Regular Opinion, held that taxpayer, who was the subject of collection activity through notices of levy, had been deprived of neither his right to (i) meaningful judicial review, despite the fact that no written or … Continue reading →

The Tax Court, in a Regular Opinion, held that taxpayer, who was the subject of collection activity through notices of levy, had been deprived of neither his right to (i) meaningful judicial review, despite the fact that no written or … Continue reading →

Many wills drafted prior to EGTRRA employ “formula” clauses eliminating estate tax on the death of the first spouse by creating a “credit shelter” trust funded with assets equal to the unused applicable exclusion amount (AEA), and then distributing the … Continue reading →

The Tucker Act, 28 U.S.C. §1491 (1887), granted the U.S. Claims Court jurisdiction to “render judgment upon any claim against the United States founded . . . upon the Constitution,” waiving sovereign immunity with respect to lawsuits arising out of … Continue reading →

In TAM 9842003, the IRS rejected a 60% valuation discount claimed with respect to the transfer of $1.8 million of securities and real estate to a NY FLP created six weeks before the decedent’s death, claiming that (i) the partnership … Continue reading →

PLR 200540004 illustrates the importance of carefully drafted marital trusts. The federal estate tax return incorrectly claimed a deduction for only the actuarial value of the spouse’s income interest, rather than for the entire interest, including the remainder interest. The … Continue reading →