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Barry Gersick Quoted in Minneapolis Star Tribune on the Pohlad Estate Tax Dispute

August 21, 2015

Barry Gersick, partner in Maslon's Business & Securities and Estate Planning Groups, is quoted in an August 20, 2015, Minneapolis Star Tribune article titled "Pohlad tax case resolved at a fraction of original IRS claim." The article reports on the IRS case against the estate of the late banker Carl Pohlad that "has been quietly settled for a fraction of the initial amount the Internal Revenue Service demanded."

In the article, Barry comments, "For me, the story is the government asking for $207 million [in taxes] and $48 million [in penalty] plus interest and the case was settled for $30 million." The article states the case ultimately came down to the valuation of Carl Pohlad's stake in the Minnesota Twins at the time of death and notes that "based on the $28.4 million in additional taxes agreed to by the Pohlad estate, Gersick estimated that Carl Pohlad's ownership interest in the team was ultimately valued at $87 million."

To read the full article online, go to: Minneapolis Star Tribune "Pohlad tax case resolved at a fraction of original IRS claim."

Barry practices in areas of taxation, business matters, and estate planning. He has represented privately held businesses and their owners in various tax matters, including tax planning, contested tax matters, estate planning, and estate and gift taxation. Barry has assisted owners of businesses in numerous acquisitions and divestitures.


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