- 6 - concern the question whether the values of their trusts should be included in their gross estates for purposes of computing Federal estate taxes. As indicated, respondent objects to the applications. It is our view that Rule 82 was not intended to be invoked under the abstract circumstances of these cases. The facts here are clearly distinguishable from those in GlaxoSmithKline Holdings (Americas) Inc. v. Commissioner, 117 T.C. 1 (2001). In GlaxoSmithKline Holdings, the examination of the taxpayer was ongoing. Attempts were made to resolve differences through the Advance Pricing Agreement Program and through the Internal Revenue Service’s Office of Appeals. The taxpayer further requested relief from double taxation under the so-called competent authority process. At the time of making the application to perpetuate testimony, the taxpayer anticipated that the competent authority process could be protracted and that it would be 4 or 5 years before the case might proceed to trial. The Court concluded in GlaxoSmithKline Holdings that there was a reasonable expectation that the applicants would be adversaries in an action cognizable in the Court and a significant risk that critical testimony might be lost. By contrast, the applications in these cases involve the possible estate taxes of persons who are still alive. The only certainty in these cases is that the applicants will die someday.Page: Previous 1 2 3 4 5 6 7 8 Next
Last modified: May 25, 2011