Minton v. Comm'r, 2009 U.S. App. LEXIS 5569

Minton v. Comm'r, 2009 U.S. App. LEXIS 5569

Taxpayer was properly assessed a deficiency under I.R.C. § 1366 because she failed to meet burden to show that directors of family-owned company took any formal action sufficient to bind the company to affect distribution and liquidation rights so that the transaction created a second class of stock and terminated small business corporation status.
 
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