July 22, 2012

Death and Taxes


It would be a felony to sell Robert Rauschenberg’s 1959 work titled Canyon because it contains a dead bald eagle, a species that is now under federal protection.  However, the I.R.S. expects the owners to pay $29.2 million in estate taxes for inheriting the work!  “At the moment, tax experts note that the I.R.S.’s stance puts the heirs in a bind: If they don’t pay, they would be guilty of violating federal tax laws, but if they try to sell Canyon to zero-out their bill, they could go to jail for violating eagle protection laws.” (Patricia Cohen, New York Times

New York Times full story-

Robert Rauschenberg Foundation-

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