Beard v. Comm'r, 2011 U.S. App. LEXIS 1575 (7th Cir. 2011)

On January 26, 2011, the Seventh Circuit ruled as valid the Service's application of the six-year statute of limitations, rather than the standard three-year period, to a Son-of-BOSS (Bond and Option Sales Strategy) transaction and the overstatement on a tax return of basis related to the transaction...

Beard v. Comm'r, 2011 U.S. App. LEXIS 1575 (7th Cir. 2011)

On January 26, 2011, the Seventh Circuit ruled as valid the Service's application of the six-year statute of limitations, rather than the standard three-year period, to a Son-of-BOSS (Bond and Option Sales Strategy) transaction and the overstatement on a tax return of basis related to the transaction...

SCOTUS Oral Argument: Does Overstated Basis = Omission from Gross Income?

Editor's Note: View blog discussion on this site of, and hyperlink to, the January 17th oral arguments before the Supreme Court : SCOTUS Showdown: Oral Arguments Heard in Home Concrete Case ... For some time now, the tax bar has been wringing its hands with frustration over when, and under what...