partnerships »
Superior Trading Strikes Out Again
As the 2012 baseball season kicks off, the United States Tax Court unloaded the bases on the consolidated case of Superior Trading, dismissing the petitioners’ motions for reconsideration under Rule 161 and to vacate
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Tax Implications of Partnership Formation
Top Takeaways 1: Contributions to Partnerships are Generally Tax Free In general, any contribution of property to a newly formed or existing partnership in exchange for an interest in the partnership is a non-taxable
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Court Rejects General Electric’s $62 Million Castle Harbour Tax Shelter
The Second Circuit Court of Appeals reversed the district court’s ruling and finding the government is permitted to impose a penalty on TIFD III-E, Inc, a subsidiary of General Electric Capital Corporation (“GECC”), for
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