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U.S. v. Woods

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Case Term OT 2013
Category Other Cases
Question Presented Whether Section 6662 of the Internal Revenue Code, which prescribes a penalty for an underpayment of federal income tax that is “attributable to” an overstatement of basis in property, applies to an un­derpayment resulting from a determination that a transaction lacks economic substance because the sole purpose of the transaction was to generate a tax loss by artificially inflating the taxpayer’s basis in property.
Lower Court's Decision Not Addressed
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by Westlaw
Westlaw

Merit Briefs:

Certiorari-Stage Documents:

Outcome - Reverse

This case was decided on 02 December, 2013.

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