Summary
In a 9-to-6 split decision, U.S. Tax Court decides that “check-the-box” regulations, which disregard the entity form of a single-member LLC for federal income tax purposes, do not apply to assessments of federal gift taxes.
Pierre v. Commissioner (I)
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See Also
Tax Court Split 9 to 6 on Preserving Family LLC for Gift vs. Income Tax Purposes
In a 9-to-6 split decision, U.S. Tax Court decides that “check-the-box” regulations, which disregard the entity form of a single-member LLC for federal income tax purposes, do not apply to assessments of federal gift taxes.