1. Home
  2. Browse Decisions
  3. F.3d
  4. 366 F.3d
  5. 366 F.3d 608 (2004)
 

POLACK v. C.I.R.

No. 03-1295.

366 F.3d 608 (2004)

Leo J. POLACK, Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Appellee.

United States Court of Appeals, Eighth Circuit.

Filed: May 3, 2004.

Attorney(s) appearing for the Case

Counsel who presented argument on behalf of the appellant was Kay Nord Hunt of Minneapolis, MN. Glenn R. Kessel and Barry A. O'Neil appeared on the brief.

Counsel who presented argument on behalf of the appellee was Joan I. Oppenheimer, Justice Dept., Washington, D.C. Jonathan S. Cohen of Washington, D.C. appeared on the brief.

Before LOKEN, Chief Judge, WOLLMAN and HANSEN, Circuit Judges.

LOKEN, Chief Judge.

Leo Polack gave 1,040,000 shares of Zip Sort, Inc. nonvoting common stock to his children. On his 1992 gift tax return, he reported $520,000 in taxable gifts, relying on appraiser Gerald Gray's opinion that the shares were worth $.50 each at the time of the gifts. The Commissioner of Internal Revenue valued the shares at $1.65 each and assessed a gift tax deficiency of $442,200. Polack paid the assessed tax and petitioned the United States Tax...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases