Get Access Reports of United States Tax Court, V. 141, July 1, 2013, to December 31, 2013 by Governm
Reports of United States Tax Court, V. 141, July 1, 2013, to December 31, 2013
Author : Government Publications Office
Publisher : Government Printing Office
Published : 2015-02-15
ISBN-10 : 0160926467
ISBN-13 : 9780160926464
Number of Pages : 603 Pages
Language : en
Descriptions Reports of United States Tax Court, V. 141, July 1, 2013, to December 31, 2013
Volume of the United States Tax Court Reports containing case abstracts and opinions of the court regarding cases between July 1, 2013 December 31, 2013. Cases in each volume are listed in the prefatory table.The United States Tax Court is a federal trial court of record established by Congress under Article I of the U.S. Constitution, section 8 providing (in part) that Congress has the power to "constitute Tribunals inferior to the Supreme Court. “The Tax Court specializes in adjudicating disputes over federal income tax, generally prior to the time at which formal tax assessments are made by the Internal Revenue Service. Though taxpayers may choose to litigate tax matters in a variety of legal settings, outside of bankruptcy, the Tax Court is the only forum in which taxpayers may do so without having first paid the disputed tax in full. Parties who contest the imposition of a tax may also bring an action in any United States District Court, or in the United States Court of Federal Claims; however these venues require that the tax be paid first, and that the party then file a lawsuit to recover the contested amount paid (the "full payment rule”).”Contents8 Findings of Fact8 Background8 John Hancock’s History9 Investment Process and Review10 Leasing10 LILO and SILO Transactions 10 Basic Structure 15 History 17 Due Diligence 18 The Hoosier Transaction19 The LILO Test Transactions20 OBB LILO20 Lease and Sublease23 End of Sublease Term25 SNCB 2 and SNCB 5 Lot 1 LILO Transactions25 Lease and Sublease28 End of Sublease Term28 The SILO Test Transactions29 TIWAG29 Lease and Sublease33 End of Sublease Term35 Two Dortmund Transactions35 Lease and Sublease38 End of Sublease39 SNCB SILO39 Grant and Subgrant42 End of Subgrant Term43 Tax Returns, Notices of Deficiency, and Trial43 Procedural History48 Trial53 Opinion53 Burden of Proof53 Principal Place of Business54 Leveraged Lease Transactions54 Frank Lyon58 LILO and SILO Litigation77 The Test Transactions78 Economic Substance79 Objective Inquiry88 Subjective Inquiry89 Substance Over Form91 OBB and SNCB LILO Transactions110 SILO Test Transactions145 Interest Deductions147 Original Issue Discount149 Transaction Expenses149 ConclusionNOTE: NO FURTHER DISCOUNTS FOR ALREADY REDUCED SALE ITEMS.Keywords: tax court reports, reports of the united states tax court, u.s. tax court reports, united states tax court reports, united states tax court, u.s. tax court, tax court