Keith Tucker, et al v. CIR

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Case overview

Case Number:

17-60833

Court:

Appellate - 5th Circuit

Nature of Suit:

Tax Court 

  1. April 03, 2019

    5th Circ. Affirms Denial Of $40M Deduction For FX Losses

    The Fifth Circuit upheld the U.S. Tax Court's denial of a nearly $40 million deduction for losses incurred by a former investment firm CEO, saying Wednesday that the losses were generated by transactions lacking economic substance.

  2. July 16, 2018

    5th Circ. Told $40M Loss Is Deductible, Tax Court Erred

    The U.S. Tax Court erroneously denied a tax deduction of almost $40 million last September because it mistakenly ruled the transaction behind it failed to meet the economic substance doctrine, a former investment firm CEO has told the Fifth Circuit in a brief.

  3. June 18, 2018

    IRS Asks 5th Circ. To Deny Individual $53M Shelter Loss

    The Internal Revenue Service has asked the Fifth Circuit to uphold a U.S. Tax Court decision that found that an almost $53 million loss could not be considered deductible because it lacked economic substance.