Ignoring Accountant’s Advice, Taxpayers Botch Investment Strategy

Business Valuation UpdateVol. 19 No. 10
Legal and Court Case Update
October 2013

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3669 Communications Equipment, NEC
334290 Other Communications Equipment Manufacturing
federal taxation
internal revenue code (IRC), capital gains
Peek v. Commissioner
2013 U.S. Tax Ct. LEXIS 13
May 9, 2013
US
Federal Court
N/A
United States Tax Court
N/A
Gustafson

Summary

Tax Court finds taxpayers engaged in “prohibited transactions” under IRC Section 4975(c(1)(B) when making personal guaranties on a promissory note to a company they had bought via IRAs for purposes of deferring until retirement any income tax liability on ...

See Also

Peek v. Commissioner

Full Text of Court Cases
May 9, 2013

Tax Court finds taxpayers engaged in “prohibited transactions” under IRC Section 4975(c(1)(B) when making personal guaranties on a promissory note to a company they had bought via IRAs for purposes of deferring until retirement any income tax liability on ...