At last count this year, the United States Federal Tax Code has 73,608 pages. Yet, we still can’t figure out tax situations. Follow me on this one. What you are looking at is the masterwork “Canyon” from 20th century artist Robert Rauschenberg. This magnificent sculpture combine includes an actual stuffed bald eagle. The owner, in New York, died and left it to her children. Because it is a bald eagle, it cannot be sold because the dead stuffed bald eagle is under federal protection. If the family sold it they would be committing a felony. The IRS has told the children that the sculpture is worth $65 million dollars and the government is demanding $29.2 million in federal taxes. The family’s tax attorney says it is valued at zero because they can’t sell it. The family can‘t donate it to a museum because if the IRS wins its $65 million in court, taxes and penalties to the IRS will cost almost $41 million for the family. Due to the family income, which is high, the family could only take a partial deduction each year due for the museum donation. The attorney estimates it would take about 75 years for the family to absorb the deduction if the IRS wins in court. Of course, this is going to court. The lawyers will get rich and there is now concern by estate planners that the position on this case by the IRS, “could upend the standard practice of valuing assets according to their sale in a normal market.” Let me see, 75,000 pages of IRS tax codes and we can’t figure out what to do with a stuffed bald eagle from 1959. I guess if I learned anything from this story is that the tax code will have additional pages added next year. Has anyone ever heard of simplifying this mess?"Canyon" Tax Issue