The U.S. Tax Court this afternoon released an opinion in summary judgment motion proceedings concerning the federal estate and gift taxes.
The case is: Estate of Sommers v. Commissioner, 149 T.C. No. 8 (August 22, 2017). Read the opinion [PDF 255 KB]
The Tax Court summarized the 75-page opinion as follows.
The administrator of the estate filed three motions for partial summary judgment seeking determinations that:
The nieces filed their own motion for partial summary judgment, asserting that none of the estate tax liability could be apportioned to them.
The Tax Court summarized its holdings on the various motions for summary judgment as follows:
The Tax Court found that the existing record did not allow for a determination of the effect of the estate tax on the allowable marital deduction. Accordingly, the nieces’ estate tax apportionment motion was granted and the estate’s motion was denied.
© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.