Monday, Sep 26, 2016
One of America's Great Newspapers ~ Toledo, Ohio

News

Ex-Pistons owner’s estate, IRS at odds

IRS seeks $2B in taxes from estate of former Pistons owner; lawyers challenge finding

DETROIT — The estate of former Detroit Pistons owner Bill Davidson is challenging the Internal Revenue Service in U.S. Tax Court over billions of dollars.

The IRS objects to how Mr. Davidson’s accountants valued stock in his company, Guardian Industries, which makes glass and parts for the auto industry, the Detroit Free Press reported Friday.

The IRS argued in a May court filing that Mr. Davidson’s accountants undervalued privately held Guardian stock placed in trusts for family members.

The late billionaire’s attorneys counter in a petition filed last week that the IRS is overvaluing the stock.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…