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Tag Archives: taxation

TAXATION

Does the Internal Revenue Code’s penalty for an underpayment of federal income tax that is “attributable to” an overstatement of basis in property apply to an un­derpayment resulting from an IRS determination that a transaction lacks economic substance? See “Court ...

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Court to decide if tax penalty applies to underpayment

The U.S. Supreme Court will decide whether the Internal Revenue Code’s penalty for an underpayment of federal income tax that is “attributable to” an overstatement of basis in property applies to an un­derpayment resulting from an IRS determination that a ...

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