For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
A magistrate judge for the U.S. District Court for the Eastern District of Texas finds that Texas billionaire banker Andrew Beal used a Son-of-BOSS tax shelter to create $153 million in artificial tax losses for 2001, but holds that IRS missed its three-year deadline for disallowing the losses. The judge does find that IRS did make the deadline for disallowing Beal's $46.5 million in claimed losses for 2002 from the shelter. The court also finds for the government in regard to IRS's assessment of accuracy-related penalties under tax code Section 6664.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)