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Tax-qualified retirement plans such as defined benefit pension plans and 401(k) plans are granted substantial tax benefits by the federal government in order to encourage private retirement savings
In Gudmundsson v US, 107 AFTR 2d 107 AFTR2d 2011-456 (2nd Cir. 2011) the Court of Appeals for the Second Circuit has affirmed a district court decision which dismissed the taxpayers’ claim for refund in tax based on an alleged overvaluation of stock one of the spouse’s received under an incentive (employee) stock option plan where the stock subsequently precipitously fell in value
On October 21, 2010 Andrew M. Harris reported on Bloomberg.com that the U.S. Department of Labor has sued four investment firms for allegedly failing to examine Madoff’s business practices before entrusting him with hundreds of millions of dollars in pension funds
In Menard, Inc., 560 F3d 620 (7th Cir., 2009), rev'g TC Memo 2004-207 , the Seventh Circuit Court of Appeals reversed the Tax Court and found in favor of the taxpayer that a large 5 bonus arrangement payment was in fact paid for services rendered and was deductible in computing the corporation's taxable income for 1998, the year in issue
