Court OKs $79M Tax Break Because of Israeli Marriage

May 27, 2021, 9:35 PM

A deceased man’s estate was entitled to claim tens of millions of dollars in tax breaks because New York courts would honor his religious divorce and subsequent Israeli marriage, the U.S. Tax Court ruled.

The Thursday ruling rejected the IRS’s argument that the estate of Semone Grossman wasn’t allowed to claim an estate tax marital deduction after the bulk of the estate—about $79 million—was left to Ziona Grossman, who married Semone Grossman in Israel in 1987. The IRS argued that Semone Grossman’s religious divorce from his first wife was invalid under New York law.

Tax ...

To read the full article log in. To learn more about a subscription click here.