Business Law Update: Tax Payer Wins Tax Shelter Penalty Case

Business Law Update: Tax Payer Wins Tax Shelter Penalty Case

In a ruling that should give taxpayers hope, the United States Tax Court in Swanson v. Commissioner, T.C. Memo 2009-31 confirmed that the usual rules of penalty abatement law apply equally to coordinated tax shelter cases. The ruling is significant because in the past taxpayers have seldom won penalty abatement issues in coordinated tax shelter cases.

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Jonathan B. Wilson is an Atlanta attorney at the law firm of Taylor English Duma LLP. Jonathan B. Wilson provides legal advice to investors, companies and business executives involving corporate law, securities law, SEC matters, intellectual property, website and Internet legal issues, start-ups, limited liability companies, partnerships, 1934 Act matters, outsourcing, strategic alliance agreements, contracts, and other matters of importance to growing private and publicly-traded companies.