That's the question that lawyers of the heirs of New York art dealer Ileana Sonnabend and the IRS are arguing in this Catch-22 case involving artwork by Robert Rauschenberg:
LinkBecause the work, a sculptural combine, includes a stuffed bald eagle, a bird under federal protection, the heirs would be committing a felony if they ever tried to sell it. So their appraisers have valued the work at zero.
But the Internal Revenue Service takes a different view. It has appraised “Canyon” at $65 million and is demanding that the owners pay $29.2 million in taxes.
“It’s hard for me to see how this could be valued this way because it’s illegal to sell it,” said Patti S. Spencer, a lawyer who specializes in trusts and estates but has no role in the case.
Hard to commiserate with rich people trying to avoid paying taxes.
It's a systemic problem, that needs to be fixed, but probably never will because those with the most money have the biggest voice in politics, and only a few are willing to admit they and their actions are part of the problem.
Seriously...$65m for that? This story has to be made up..
Bald Eagles only have white heads when they reach maturity at the age of 3-4 years. Before that age they are brown and look very similar to the Golden Eagles.
Anyways this is a prime example of the IRS being a bunch of vultures for demanding half of the value of the sculpture in taxes. The government has gotten out of control with their inheritence taxes.
Second of all that is one hideous sculpture that I don't give you half a PB&J sandwich for.
Either way, it is an illegal bird to kill or have parts of...