Court Considers Economic Substance in S Corp Transactions

The IRS challenges some tax positions by asserting that the transactions lack economic substance. This can allow the government to unwind or ignore transactions that comply with our tax laws if there is no legitimate business purpose for the transactions other than tax savings. There is a growing body of court cases that helps define […] The post Court Considers Economic Substance in S Corp Transactions appeared first on Houston Tax Attorney.
Source: Houston Tax Attorney

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