Tax Court Settles Outside Basis Rules For Partnerships
By Ama Sarfo ( June 3, 2014, 5:44 PM EDT) -- A recent U.S. Tax Court ruling reasserting the court's authority to analyze partners' specific facts when determining whether tax deficiencies apply to gains earned from partnership liquidations sends a strong message that taxpayers can't evade the analysis by relying on case law applicable to sham partnerships....
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