U.S. High Court Affirms 8th Circuit Ruling In Row Over Estate Tax, Share Valuation

(June 6, 2024, 2:34 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on June 6 unanimously affirmed an Eighth Circuit U.S. Court of Appeals decision upholding a district court’s ruling granting summary judgment to the U.S. government in a dispute over its determination that an estate owed an additional $889,914 in taxes, finding that the contractual obligation to redeem the shares of the decedent by the corporation he jointly owned with his surviving brother did not reduce the value of those shares....