District Court: Tax Effect of a Son of Boss Transaction Denied

In a lengthy opinion, the United States District Court for the District of Massachusetts disallowed the tax benefits accruing from a Son of Boss transaction promoted by KPMG and entered into by the former U.S. Ambassador to Ireland, Richard Egan.

Fidelity International Currency Advisor A Fund, LLC v. United States, Docket 05-40151 et. al. (D. Mass May 17, 2010)