Potato Chip Heiress’ Estate Fights $34 Million Tax Bill From IRS

Donations by a late Birmingham woman shouldn’t be deemed taxable gifts, her estate said in fighting a nearly $34 million assessment from the IRS.

The estate of Joann Bashinsky, who was married to Golden Flake Snack Foods founder, chairman, and chief executive officer Sloan Bashinsky, Sr., petitioned the US Tax Court over a February notice of deficiency from the IRS. The government asserts the estate underpaid its taxes by $17.3 million, adding about $16.5 million in penalties.

Bashinsky, who died in 2021, owned the majority stock in Golden Enterprises Inc., which manufactures a variety of salted snack foods and ...