Taxpayers (and Their Valuator) Vindicated in Appeal of §4958 ‘Excess Benefit’ Transaction

Business Valuation UpdateVol. 12 No. 9
Legal and Court Case Update
September 2006
8059 Nursing and Personal Care Facilities, NEC
623110 Nursing Care Facilities (Skilled Nursing Facilities)
federal taxation

Caracci v. Commissioner (II)
No. 02-60912 (5th Cir. 2006)
July 11, 2006
Federal Court
5th Circuit
United States Court of Appeals
Charles A. Wilhoite, Allen D. Hahn
Per Curiam


“Cascade of errors” by IRS and Tax Court lead to taxpayer’s (and valuator’s) total victory on appeal of home healthcare company.

See Also

Caracci v. Commissioner (II)

The U.S. Court of Appeals for the Fifth Circuit determined that the Tax Court erroneously valued the assets of a non-profit corporation that converted to a for profit corporation and rendered a decision for the taxpayer.