Tag Archives: 10-1204

Supreme Court Refuses to Defer to IRS Interpretation of a Statute of Limitations

The Supreme Court held yesterday that the IRS has just three years to bring a deficiency action against a taxpayer that reduces its tax liability by overstating basis instead of omitting gross income–not six years as the IRS argued.  Yesterday’s decision in United States v. Home Concrete & Supply effectively overrules the D.C. Circuit’s decision in Continue reading

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Cert Grant Threatens D.C. Circuit’s Intermountain Decision

Yesterday the Supreme Court granted cert in United States v. Home Concrete & Supply, LLC, No. 11-139 (S. Ct.) [Home Concrete & Supply, LLC v. United States634 F.3d 249  (4th Cir. 2011)], which raises the same issue as the D.C. Circuit’s opinion in Intermountain Ins. Serv. of Vail, LLC, v. Comm’r, No. 10-1204 (D.C. Cir. June 21, 2011, amended Aug. 18, 2011) (Tatel, J., joined by Sentelle, C.J., & Randolph, S.J.), but reaches the opposite result. Continue reading