Tax Notes Reports on Benjamin Eisenstat’s Representation of the Estate of Massad

The estate of an automobile dealership owner turned banker came out on top in a settlement, with the IRS agreeing to most of the value reduction on the restricted shares.

In a June 5 order, Tax Court Judge Kathleen Kerrigan entered a stipulated decision stating the taxpayer owed a deficiency of $1.14 million rather than the $7.77 million originally sought by the IRS in Estate of Massad v. Commissioner. The estate agreed that it won’t claim any additional deductions for state estate, inheritance, legacy, administrative costs, and succession tax.

To read more about the case, please visit Tax Notes’ website.