The Detroit Free Press interviewed Beth Shapiro Kaufman regarding the estate of former Detroit Pistons owner Bill Davidson which is challenging the Internal Revenue Service in U.S. Tax Court over billions of dollars. For the full story, please visit this link.
Excerpt taken from the article.
"It's huge," said Beth Kaufman, a trusts and estate lawyer at Caplin & Drysdale in Washington, who is not involved in the case. "Just the sheer dollar amounts involved here are enormous."
While the issues involved — how much certain assets were worth, and the amount owed, if any, on swaps made to trusts for Davidson's children or grandchildren — are somewhat routine, Kaufman said it's the size of what the IRS cites as deficiencies in its notice of May 2 that puts this case in a different stratosphere.
Beth Kaufman, a trusts and estate lawyer at Caplin & Drysdale in Washington, D.C., is not involved in the case but said the IRS' deficiency notice includes double-counting, which means the tax bill likely will decrease. Kaufman said the agency includes as much as it can in such a notice because it can't add items later.
That's what could keep the case going for some time, suggested Kaufman.
"I would guess that this case will end up being litigated," she said. "There's just too much money at stake."