-5-
When decedent died, Gershon was in good health and of sound
mind. Approximately 13 months later, on February 23, 2001,
Gershon slipped and fractured his hip. Before this accident, the
coadministrators met two to three times a week to effect the
business of the estate. After the accident (including during the
short period that Gershon was hospitalized for the hip injury),
the coadministrators continued to meet two to three times a week
to effect the business of the estate. Gershon was active and
upbeat after his accident.
5. The Estate Tax Return
The estate tax return was originally due on October 21,
2000. Pursuant to a request for an extension made by Gershon on
October 17, 2000, the due date for that return was extended to
April 21, 2001. Gershon’s request was accompanied by a payment
of $2.4 million and included a request to extend the time to pay
the tax related to the estate tax return. Pursuant to Gershon’s
request, the time to pay the tax was extended to October 21,
2001.
The coadministrators filed the estate tax return on February
4, 2002, reporting a liability of $3,911,424 and a balance due of
$1,669,222 ($3,911,424 of estate tax - $2.4 million paid with the
extension request + reported interest due of $157,798). The
return was accompanied by a payment of $600,000. On April 1,
2002, respondent assessed as to the return additions to tax under
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