Archive for August 2017
Regulatory News: Taxpayer Deductions
The United States Tax Court (the “Tax Court”) recently issued a significant opinion, that of RERI Holdings I, LLC v. Commissioner, 149 T.C. 1 (2017). In that case, the taxpayer, on its partnership tax return for the 2003 taxable year, claimed a $33 million charitable contribution deduction stemming from its contribution of property to the…
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