Bankruptcy Court Accepts Rationale for Tax Affecting
In a fraudulent transfer case involving S corp, court says valuation should reflect that buyers of S corps would experience a reduction in the value of the corporations' earnings because of the need to pay personal income taxes on those earnings.
Bank of America, N.A. v. Veluchamy (In re Veluchamy)
In a fraudulent transfer case involving S corp, court says valuation should reflect that buyers of S corps would experience a reduction in the value of the corporations' earnings because of the need to pay personal income taxes on those earnings.
IRS Burden of Proof Does Not Obviate Errors in Taxpayer Valuation
2nd Circuit rejects taxpayer’s contention that, should IRS fail its burden of proof, then the court must defer to estate’s valuation analysis.
Estate of Thompson v. Commissioner (II)
Second Circuit rejects taxpayer’s contention that should IRS fail its burden of proof, then the court must defer to estate’s valuation analysis.
Direct Media/DMI, Inc. v. Rubin
At issue is the admittance of expert testimony.
New York Supreme Court Grants Corporation's Motion for Deposing Witness
New York Supreme Court, Appellate Division, modified in part a discovery order of the trial court, by granting the corporation's motion for an open commission for the oral examination of a nonparty witness.