Robert Connell v. Commissioner of Internal Reven

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Case overview

Case Number:

19-2668

Court:

Appellate - 3rd Circuit

Nature of Suit:

tax court 

  1. May 05, 2020

    3rd Circ. Told Ex-Merrill Adviser's $3.2M Payment Isn't Income

    The U.S. government erroneously taxed a $3.2 million payment from Merrill to an ex-financial adviser as income instead of a capital gain because it ignored the real reasons he left the firm, his attorneys told the Third Circuit. 

  2. March 16, 2020

    Ex-Merrill Adviser's $3M Award Ordinary Income, 3rd Circ. Told

    A loan forgiveness award of $3.2 million won by a former Merrill financial adviser against his former employer in arbitration should be taxed as ordinary income and not at the lower capital gains rate, the U.S. told the Third Circuit.