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Results: 1-10 of 41

Statutory interpretation still lives

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 1 2014

In early December, the Supreme Court of the United States ruled that the substantial valuation misstatement penalty could be determined in a TEFRA

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

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

PPL and a wealth tax

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 3 2013

On May 20, 2013, the Supreme Court of the United States decided PPL Corporation and Subsidiaries v. Commissioner, 569 U.S. __ (2013). This was the

Supreme Court to review economic substance case

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

United States v. Gary Woods, 471 Fed. Appx. 320 (5th Cir. 2012), affirming per curiam, 794 F. Supp. 2d 714 (WD Tex. 2011), will be reviewed by the

STARS transaction rejected

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 20 2013

On Feb. 11, 2013, a regular Tax Court opinion was issued in a case that the opinion said was of first impression, ruling against Bank of New York

The worthless subsidiary problem

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 31 2013

LPCiminelli Interests, Inc. v. United States, 110 AFTR 2d 2012-6631 (W.D. N.Y. 2012) ruled that a consolidated group did not have to amend its

GLAM 2012-007

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

The IRS Chief Counsel advises the field in this general legal advice memorandum (GLAM) that a subsidiary does not enter a corporate group when the common parent buys the stock needed for affiliation for a note carrying below-market interest so as to compel the seller to exercise its right to take the stock back after two years

Rare taxpayer debt-equity win

  • Alston & Bird LLP
  • -
  • Netherlands, USA
  • -
  • November 28 2012

Pepsico, Inc., and Pepsico Puerto Rico, Inc. v. Commissioner, T.C. Memo 2012-269, ruled that the U.S. holder of an ambiguous security issued by its foreign affiliate did not have to treat the periodic payments received as interest, even though the affiliate was deducting interest paid under Dutch tax law

Excess loss account avoided

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 15 2012

LPCiminelli Interests Inc. v. United States (W.D.N.Y. Nov. 13, 2012) ruled for the taxpayer on an IRS assertion of excess loss account liability