2013's Top 10 Tax Controversy Cases

Law360, New York (February 5, 2014, 4:06 PM EST) -- As we look forward to 2014, we take a look back at the top 10 important tax controversy issues making the news in 2013 that may have continuing importance in the future.

1. Woods — Court Rules on Valuation Misstatement

On Dec. 3, 2013, the U.S. Supreme Court unanimously reversed the Fifth Circuit, holding that the 40 percent gross valuation misstatement penalty applied when a taxpayer claimed an outside basis in a partnership interest that exceeded the actual basis of zero. United States v. Woods, 134...
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