But don't look for "logic" in any government dictionary. In the summer of 2011, the IRS sent the family an unsigned report appraising "Canyon" at $15 million. When they rejected the valuation, the government upped the ante: The appraisal was increased to $65 million, which yielded a $29.2 million tax bill. And the IRS levied a special "undervaluation penalty" of 40%, applied in cases where a party has made what the IRS deems a "gross understatement" of a property's value. That added $11.2 million to the tab. Plus interest.
So if your job is to try to collect tax revenue, why in the world would you try to bill someone $40 million for a piece of art that can never be sold? how do you expect any other reaction than them telling you to frick off and donating it somewhere...are they not capable of rational thought?
we desperately need to switch to a consumption tax, it can still be made as progressive as it needs to