5th Circ. Says Attys' Investments Were Tax Deductible

Law360, New York (March 4, 2014, 8:27 PM EST) -- The Fifth Circuit on Tuesday upheld a district court's ruling in favor of two attorneys accused by the U.S. of skirting taxes, finding that investment fees they claimed as a deduction were in fact incurred in the course of currency trading.

Charles Patterson and Harold Nix of Nix Patterson & Roach LLP were at the center of the lawsuit, their investment vehicles placed under suspicion by the U.S. Internal Revenue Service. The IRS questioned whether the attorneys were fully in control of their investment vehicles and...
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Case Information

Case Title

Klamath Strategic Invst Fund v. USA


Case Number

12-41286

Court

Appellate - 5th Circuit

Nature of Suit

2870 Tax Suits (Tax from DC)

Date Filed

November 18, 2012

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