Guy R. Baxter v. Commissioner of IRS

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Case overview

Case Number:

17-2402

Court:

Appellate - 4th Circuit

Nature of Suit:

U.S. Tax Court 

  1. December 10, 2018

    Tax Court Right To Reject Couple's $2.4M Tax Shelter: 4th Circ.

    A Fourth Circuit panel has upheld a U.S. Tax Court rejection of a $2.4 million tax shelter scheme, ruling it had no economic substance and the taxpayers should have known it was "too good to be true."

  2. May 24, 2018

    Tax Court Misconstrued Transaction, Couple Tells 4th Circ.

    Two taxpayers asked the Fourth Circuit on Wednesday to overturn a U.S. Tax Court ruling that had found a transaction — one the Internal Revenue Service called a "tax-avoidance scheme" — to lack economic substance.

  3. May 04, 2018

    IRS Urges 4th Circ. To Uphold Ruling Against Tax Shelter

    A sophisticated investor looking to the economic substance of a loan would not pay more than $2 million in fees to borrow $5.3 million, the IRS told the Fourth Circuit Thursday in an appellate brief seeking to uphold a U.S. Tax Court ruling that a family made the investment solely to generate a tax loss.