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contingency fund (a net of approximately $15,840.14) be
distributed equally to decedent's estate and Mr. Thomas. On
March 13, 1995, the trustee for the Thomas Trust submitted a
final accounting, and on March 17, 1995, the common pleas court
approved the accounting and discharged the trustee.
On October 12, 1995, the executrix filed a final Fiduciary's
Account with the probate court reporting that all assets of
decedent's estate had been distributed and disbursed. On March
26, 1996, the executrix filed an amended final Fiduciary's
Account that reported minor differences in a few dollar amounts
but still reflected distribution and disbursement of all assets.
Both final accounts reflected an unknown value for the following
assets: (1) 75 shares of Thomas, Inc. common stock, (2) 26
shares of Uncle Henry's, Inc., to Thomas Trust A, (3) 26 shares
of Uncle Henry's, Inc., to Thomas Trust B, (4) 37 shares of
Thomas, Inc. common stock to Thomas Trust A, and (5) 38 shares of
Thomas, Inc. common stock to Thomas Trust B. On April 30, 1996,
the probate court closed the estate and discharged the executrix.
The estate filed a Form 706, United States Estate Tax Return
(estate tax return), on February 7, 1997, more than 10 years
after the due date thereof. The estate tax return reported a
gross estate of $2,047,294.06, a taxable estate of $863,470.06,
and an estate tax liability of $110,906.76, all of which was
remitted with the filing of the estate tax return. On the estate
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