Estate Contests Tax Valuation of St. Louis Grocery Store Shares

The estate of a key figure in the St. Louis grocery store chain Schnucks says the IRS overvalued shares of its business that were passed down and is asking a federal court to wipe out a nearly $18 million tax bill the agency says it owes.

After Marilyn Schnuck, the daughter-in-law of the store’s founders, died in 2022 at the age of 89, she bequeathed more than 72 shares of her family’s privately held company, according to a June 11 petition the estate filed in US Tax Court. An appraiser valued these shares at more than $32 million, but ...