Wandry appeal dropped – Trugman Valuation

On March 26, 2012, the Tax Court issued what has been heralded as a ground breaking decision in Wandry v. Commissioner, T.C. Memo 2012-88. The Court upheld a stated dollar value defined value clause of gifts of LLC interests, in which no charity was involved in the formula allocation. A Notice of Appeal to the 10th Circuit was filed on August 28.

Pursuant to Stipulations to Dismiss dated October 16, the parties stipulated that the case be dismissed with prejudice, that each party bear its own appellate costs, and that an order of dismissal be entered by the Clerk of the Court. The Order dismissing the appeal was filed on October 17.

Trugman Valuation Associates’ business valuation and litigation support services have been rendered for a variety of purposes including, but not limited to, family law matters, business damages, lender liability litigation, buy-sell agreements, shareholder litigation, estate and gift tax matters, buying and selling businesses, malpractice litigation, wrongful death, sexual discrimination, age discrimination, wrongful termination, and breach of contract. Representation in litigation includes plaintiff, defendant, mutual, and court-appointed neutral.

Trugman Valuation Associates, Inc. is a business valuation and litigation support firm with experience in a wide variety of assignments including closely-held businesses, professional practices. Trugman Valuation Associates, Inc. is located in Plantation, Florida and Parsippany, New Jersey. For more information, please call 800-330-VALU or visit our website.