2nd Circ. Affirms Denial Of Partnership's $22.7M Tax Loss

By Kevin Pinner · August 11, 2025, 3:55 PM EDT

The U.S. Tax Court correctly found the IRS properly denied a Connecticut partnership's $22.7 million loss deduction because the underlying transactions, which involved a Brazilian company, were tantamount to a disguised...

To view the full article, register now.
Try a seven day FREE Trial

Already a subscriber? Click here to login

Documents

Related Sections

Case Information

Case Title

Pimlico, LLC v. Commissioner of Internal Revenue

Case Number

24-1982

Court

Appellate - 2nd Circuit

Nature of Suit

Date Filed

July 24, 2024

Featured Stories

Bowled Over: How Inflation Put Pinstripes In Ch. 11 No Photo Available

Emlyn Cameron

Pinstripes Holdings Inc., a restaurant chain offering bocce ball and bowling alongside fettuccine bolognese, was buffeted by inflation... (more story)

Spirit's Shake-Up In 2nd Ch. 11 May Not Save Budget Airline No Photo Available

Alex Wittenberg

In its second bankruptcy case in under a year, Spirit Airlines has vowed to use the tools of Chapter 11 to ditch jets and change where... (more story)

Demand Dip, Investor Dispute Led Walker Edison To Ch. 11 No Photo Available

Yun Park

Declining consumer demand, rising operating costs and mounting financial pressures — along with ongoing litigation between Walker Edis... (more story)