Tax Law News and Insights

Liberty Global Inc. ("LGI") and the Department of Justice are in fierce litigation over the application of the economic substance and step transaction doctrines to a transaction for which LGI claimed a dividends received deduction for $2.4 billion in gain from the sale of its Belgian subsidiary Telenet Group Holding...

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The IRS postponed deadlines to file various individual and business tax returns and make tax payments for taxpayers affected by Hurricane Idalia in Florida and in South Carolina. Affected individuals and businesses in Florida will have until February 15, 2024 to file returns and pay any taxes that were originally...

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Recent revelations involving documents found to be backdated by the IRS in the case of Lakepoint Land II, LLC v. Commissioner resulted in the Tax Court imposing sanctions on the IRS. Further inquiries ensued as to whether the IRS also proffered backdated penalty documents in other similar cases, hinting at a troubling...

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