The Second Circuit upholds the tax shelter related convictions of a KPMG parter & manager and the conviction of Sidley Austin partner R.J. Ruble.
In a conference opinion, a majority of the Tax Court holds that it has jurisdiction to redetermine the tax of a taxpayer who reports pass-through income inconsistently with a Schedule K-1.
In a brief but divided opinion, the Okalahoma Supreme Court finds a 1% health care assessment was unconstitutional. What follows is a link only not the usual pdf.
Georgia Court of Appeals rules that sales tax exempt electronically delivered computer software nonetheless qualifies to meet the threshold spend for purposes of a general sales tax rebate.
The Fifth Circuit Court of Appeals vacated the Tax Court’s valuation of an historic façade easement for charitable contribution purposes and remanded for further findings.
The 11th Circuit affirms the Tax Court’s disallowance of a Section 1031 exchange.
The Court of Federal Claims uphold accuracy related penalties against several Son of Boss tax shelter partnerships.
In a decision that prompted a 20 page dissent, the Second Circuit reverses the Tax Court on the application of Section 2036 to the transfer of a 49% interest in a home that the donor continued to occupy.
For additional commentary click here.
The Tax Court finds that the transfer of assets to an LLC was a disguised sale under Sec. 707.