Tax Law

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Veritas Software Corp. v. Comm'r, 2009 U.S. Tax Ct. LEXIS 34 (T.C. Dec. 10, 2009)
Posted on 17 Dec 2009 by LexisNexis Tax Center

Veritas Software Corporation entered into a cost-sharing agreement with Veritas Software Holding Ltd., a wholly owned subsidiary based in Bermuda. (Pursuant to a 2005 merger, Symantec is the successor in interest to the parent company.) In evaluating... Read More

Garnett v. Comm'r, 2009 U.S. Tax Ct. LEXIS 18 (T.C. June 30, 2009)
Posted on 9 Jul 2009 by LexisNexis Tax Center

Plaintiffs owned interests in L.L.P.s, L.L.C.s, and tenancies in common. On cross-motions for partial summary judgment, the parties request a ruling as to whether plaintiffs’ interests are subject to IRC Sec § 469(h)(2) , which treats losses... Read More

Klamath Strategic Investment Fund et al. v. United States, 2009 U.S. App. LEXIS 10456 (May 15, 2009)
Posted on 8 Jul 2009 by LexisNexis Tax Center

In a suit filed under 26 U.S.C.S. § 6226 by two investment fund partnerships seeking a readjustment of partnership items, a complex series of loan transactions were properly disregarded for tax purposes because, under the economic substance doctrine... Read More

Capital One Bank v. Comm'r of Revenue, 453 Mass. 1 (Mass. 2009)
Posted on 8 Jul 2009 by LexisNexis Tax Center

The denial of an abatement of the excises tax under Mass. Gen. Laws ch. 63, § 2 to several out-of-state banks was upheld on appeal as the banks' use of banking and credit facilities, their solicitation of credit card customers, and servicing... Read More

Praxair Technology, Inc. v. Director, Div. of Taxation, 404 N.J. Super. 287 (App.Div. 2008)
Posted on 8 Jul 2009 by LexisNexis Tax Center

The New Jersey Tax Court erred by finding a foreign corporation liable under the Corporation Business Tax, N.J.S.A. §§ 54:10A-1 through -41, for the 1994-1996 tax years as the Tax Court failed to consider the amendments in 1996 to N.J.A.C. 18... Read More

Xilinx, Inc. v. Comm'r, 2010 U.S. App. LEXIS 778 (9th Cir. Jan. 13, 2010)
Posted on 15 Jan 2010 by LexisNexis Tax Center

The Ninth Circuit withdrew its May 2009 decision ( Xilinx, Inc. v. Comm'r, 567 F.3d 482 (9th Cir. 2009)) in Xilinx, Inc. v. Comm'r, 2010 U.S. App. LEXIS 778 (9th Cir. Jan. 13, 2010) . In the May decision , t he Commissioner had contended that... Read More

Johnson Controls v. Miller, 2010 U.S. LEXIS 4206 (U.S., May 24, 2010)
Posted on 27 May 2010 by LexisNexis Tax Center

The U.S. Supreme Court denied the petition for certiorari by Johnson Controls, Inc., pursuant to the 2009 decision of the Kentucky Supreme Court, upholding the constitutionality, and retroactive application, of the state's statutory prohibition against... Read More

LexisNexis® Electronic Advance Sheets Service
Posted on 9 Nov 2009 by LexisNexis Tax Center

Tax Law Case summary emails delivered directly to you on a daily basis. You select the Topics and Jurisdictions relevant to your practice or interests and we'll send comprehensive summaries of breaking decisions to you. This annual subscription... Read More

In re Comiskey, 2009 U.S. App. LEXIS 913
Posted on 5 Jun 2009 by LexisNexis Tax Center

Court could consider patentable subject matter under 35 U.S.C.S. § 101 in reviewing rejection of patent application only for obviousness since there was no issue of fact, policy, or agency expertise, and claimed system of mandatory arbitration was... Read More

Valero Energy Corp. v. United States, 2009 U.S. App. LEXIS 13050 (7th Cir., June 17, 2009)
Posted on 8 Jul 2009 by LexisNexis Tax Center

Tax practitioner-client privilege under 26 U.S.C.S. § 7525(a)(1) did not apply to documents sought by the IRS that contained financial data, tax liability estimates, and other accounting advice. The exception under § 7525(b) for documents promoting... Read More

Amazon.com LLC v. New York State Dept. of Taxation & Fin., 2009 NY Slip Op 29007 (N.Y. Sup. Ct. 2009)
Posted on 8 Jul 2009 by LexisNexis Tax Center

Retail internet business's complaint alleging that the Commission-Agreement Provision, Tax Law § 1101(b)(8)(vi), violated the Commerce Clause was dismissed when the business failed to allege that New York associates did not solicit business for... Read More

Northstar Trekking, LLC v. United States (D. Alaska 2009)
Posted on 14 Aug 2009 by LexisNexis Tax Center

Recent litigation involving a charter flight-seeing service sheds light on the limitations restricting the application of the Air Transportation Excise Tax under IRC Sec. 4261(a) in defined circumstances. An essential factor is the vendor's degree... Read More

Halby v. Comm'r, T.C. Memo 2009-204 (T.C. 2009) (Sept. 13, 2009)
Posted on 4 Nov 2009 by LexisNexis Tax Center

Treas. Reg. Sec. 1.213-1(e)(1)(ii) provided that taxpayer was not entitled to deduction for illegal treatment. Payments by tax attorney to various prostitutes in New York were personal expenses not prescribed by doctor and not intended to treat a medical... Read More

Lawrence S. Berger; Realty Research Corporation, Appellants v. Internal Revenue Service; Dept. of the Treasury, 288 Fed. Appx. 829; 2008 U.S. App. LEXIS 17256 (3rd Cir., August 11, 2008)
Posted on 8 Jul 2009 by LexisNexis Tax Center

IRS did not violate the FOIA or the Privacy Act when it refused to disclose time records of IRS agent who conducted civil investigation of a corporation and an individual. The time records were exempt from disclosure under 5 U.S.C.S. § 552(B)(6)... Read More

Taproot Admin. Servs. v. Comm'r, 2009 U.S. Tax Ct. LEXIS 29 (T.C. Sept. 29, 2009)
Posted on 5 Oct 2009 by LexisNexis Tax Center

An Individual Retirement Account (IRA) is not authorized to hold S Corporation stock. IRAs are not included in the listing of qualified S Corporation owners enunciated in IRC Section 1361. An IRA cannot qualify as a custodial account or grantor trust... Read More

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