Posted on 08/16/2012 10:33:39 AM PDT by grundle
A long time ago, when there were no laws against killing bald eagles, someone made a sculpture that included a stuffed bald eagle.
A few years ago, the owner of the sculpture died, and someone inherited the sculpture.
Because of today’s laws against the trade in bald eagles, it is illegal for the person who inherited the sculpture to sell it. Because of this ban on selling it, Christie’s auction house has appaised the value of the sculpture as zero. However, the IRS has decided that the sculpture is worth $65 million, and has sent the owner an inheritance tax bill of $29.2 million.
Whose appraisal do you agree with?
(Excerpt) Read more at danfromsquirrelhill.wordpress.com ...
If any lurkers from DU are reading this, please post a link to the poll over there. Thanks.
Send the stuffed eagle to the IRS as payment and demand they refund you $35.8 million
Insure it, put it in the back of an old pickup, drive the truck to Detroit, leave the truck parked with the keys in it, walk away.
If there is no legal market value than the market value is 0
Perfect response.
Absolutely
How can the government expect a person to pay a tax that through no fault of their own incurred and has no possible means of legally selling in order to pay such tax?
On another note, how did the IRS learn of the statue?
excellent idea!!
My guess is that the I.R.S. reads the wills of all rich people, and that's how they learned about the statue.
While I like this idea, I can’t imagine it working.
Or, take it to the bomb disposal range and have the local bomb techs blow the thing into micro bits. You can;t tax it if it no longer exists.
You bring out the sculpture and sit it on the table. Tell the IRS agent you really can't afford to pay the taxes or to insure the item. You ask him to TAKE IT AWAY as partial payment on the tax due.
The Fish and Wildlife officer can then arrest the IRS agent for merely picking up the statue.
After all, he does not qualify to possess an eagle feather or part ~ end of story.
Donate it to a charity and write 65 million off your taxes...
Because any sale would be illegal, there is no market, thus, no market value.
The IRS position is arbitrary AND capricious, in addition to being selectively persecutorial.
There is no basis, under the law, for the IRS finding, and further pursuit of this action should be cause for criminal prosecution of individuals involved.
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