Keith A. Tucker, et ux., Petitioners v. Commissioner of Internal Revenue
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October 15, 2019
Justices Won't Review Ex-CEO's $40M Tax Deduction Appeal
A former top executive of an investment firm lost his last chance to maintain a deduction of nearly $40 million in tax losses from foreign currency transactions when the U.S. Supreme Court declined Tuesday to hear his case.
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September 27, 2019
4 Federal Tax Cases To Watch At The US Supreme Court
From challenging 30-year precedent that requires small-business owners to turn over self-incriminating tax records to determining the ownership of tax refunds among affiliated groups, the U.S. Supreme Court’s fall docket contains many interesting cases involving federal tax law. Here, Law360 looks at four federal tax cases to watch in the upcoming term.
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September 19, 2019
Ex-CEO Asks Justices To Resolve Economic Substance Circ. Split
A former Waddell & Reed CEO has told the U.S. Supreme Court his $40 million deduction dispute is the "ideal vehicle" to resolve conflicting circuit opinions on when courts may determine if transactions designed to reduce taxes have a legitimate business purpose.
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September 06, 2019
Ex-CEO's $40M Loss Deductions Not Legitimate, Justices Told
The Fifth Circuit correctly found that a former investment firm CEO couldn't claim $40 million in loss deductions on foreign currency transactions that lacked a business purpose, and that decision should stand, the government has told the U.S. Supreme Court.
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July 08, 2019
$40M FX Loss Deductions Legitimate, Ex-CEO Tells High Court
Some $40 million in tax deductions on foreign currency transactions were in line with the tax code and the Fifth Circuit incorrectly found the transactions lacked a business purpose, a former investment firm CEO has told the U.S. Supreme Court.