Supreme Court Upholds a 40 Percent Valuation Misstatement Penalty Based on a Misrepresentation of Basis
By EsqSocial Corporation 23/12/13
In United States v. Woods, No. 12-562, 2013 U.S. LEXIS 8776 (December 3, 2013), the U.S. Supreme Court upheld the imposition of the 40 percent gross valuation misstatement penalty set forth in 26 U.S.C. ยง 6662 where the underpayment of tax resulted...
By: Akerman LLP