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Estate Settles $1.5 Million Oil Stock Tax Fight, Avoids Penalty

The IRS and a petroleum business owner’s estate resolved a US Tax Court dispute for about $1.5 million that stemmed from the valuation of shares the deceased held in her family’s Maine-based petroleum business.

The IRS and a petroleum business owner’s estate resolved a US Tax Court dispute for about $1.5 million that stemmed from the valuation of shares the deceased held in her family’s Maine-based petroleum business.
The Estate of Hilda McCollum faced a $6… [263 chars]

Source: Bloomberg Tax News | Published: 2026-04-24T16:31:40Z

Credit: Bloomberg Tax News

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