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Results: 1-10 of 138

Sections 305 and 306 and tracking stock

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 25 2013

LTR 201308001 rules on sections 305 and 306 are bread and butter subchapter C provisions that were designed for "tax shelters" that are so quaint and

Convertible preferred equity certificates

  • Alston & Bird LLP
  • -
  • Luxembourg, USA
  • -
  • July 13 2011

Instruments may be treated as debt for foreign income tax purposes but as equity or U.S. tax purposes

Avoiding the section 338 consistency rules

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 9 2012

LTRS 201213013 and 201214012 are the same ruling, evidently issued to a buyer and a seller, in the common scenario where the seller consolidated group wants to sell subsidiary stock and the buyer wants to buy assets and obtain a cost basis; both taxpayers got what they wanted, including placing the target corporation into the buying consolidated group, without having a qualified stock purchase and thereby avoiding the consistency rules

Home Concrete decided: taxpayer wins

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 25 2012

On April 25, 2012 the Supreme Court ruled that the overstatement of the basis of property sold, resulting in a substantial understatement of gain, is not an omission from gross income, and so the three year and not the six year statute of limitations applied to the taxpayer’s assessment, meaning the assessment came too late

Cross chain 351?

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 1 2012

LTR 201150021 is a surprising cross chain restructuring ruling that treats the transfer of the assets of one subsidiary of P to a subsidiary at the bottom of another chain of subsidiaries below P as a series of section 351 exchanges and a D reorganization at the bottom of the acquiring chain

Spin-offs become easier and easier

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 2 2009

Recent government releases show that the section 355 spin-off continues to be a favored corporate transaction, despite Congress' efforts to restrict it in recent years

“Codifying the economic substance doctrine”

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 1 2009

The Obama administration and Congressman Rangel have promised to "codify the economic substance doctrine," and thereby decrease the deficit by almost $5 billion over 10 years

The constitutionality of tax reform

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 1 2013

The Administration has indicated that it will pursue fundamental tax reform; leaders on the Hill have also indicated interest in doing so. Therefore

Ignore constitutional issues? Horne v. Department of Agriculture, 2013 U.S. LEXIS 4357 (2013)

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 1 2013

Administrative agencies, including the IRS, commonly decline to consider challenges based on the Constitution or otherwise asserting that the law is

Better luck with economic substance doctrine John Hancock Life Insurance Co. v. Commissioner, 141 T.C. No. 1 (2013)

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 1 2013

John Hancock Life Insurance lost a recent decision in the U.S. Tax Court ruling on a combination of LILO and SILO transactions that were supposed to