The so-called sham transaction doctrine is “judge made law” which will deny advantageous tax treatment where transactions are carried out primarily for tax avoidance purposes and […]
The business purpose test requires that a transaction, to be respected, must have a business purpose separate and apart from any associated tax advantages. The business […]
The economic substance doctrine or “sham in substance doctrine” arose out of common law, but has recently (as of 2010) been codified in IRC § 7701(o), […]
Similar to the sham transaction analysis, the so-called “substance over form doctrine” maintains that the “substance,” rather than the form, of a transaction is what governs […]
The passive loss rules prevent losses from investment activities where the taxpayer is merely “passively” involved from offsetting income that the taxpayer actively “materially participates” in […]
With the enactment of IRC Code Section 269, Congress sought to combat certain tax evading strategies involved with the acquisition of a corporation (or its assets). […]