Supreme Court Opens New Term With Three Tax Cases on Its Docket

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The U.S. Supreme Court opens its 2011-12 term with three tax cases on its docket, including a closely watched case that is expected to address the circuit split on the IRS's application of the extended assessment limitations period to tax shelters that operate by understating the basis in goods sold. The high court made news before its term even started by granting certiorari to an appeal of the Fourth Circuit's ruling in United States v. Home Concrete Supply LLC, which deepened a 4-2 circuit split. The other two tax cases to which the Supreme Court has granted certiorari are Kawashima v. Holder and Hall v. United States, which examine whether tax pleas should lead to deportation and the bankruptcy dischargeability of capital gains.

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