Legal Opinion
Streber v. Commissioner
Court of Appeals for the Fifth Circuit
Decided April 16, 1998No. 96-60443PublishedCited by 57 opinions
1Opinion of the Court
EDITH H. JONES, Circuit Judge:
Two sisters were about 20 and 25 years old when they received over a million dollars each, and they hired a lawyer to advise them on potential tax liability. The Commissioner charged them with negligence and substantial understatement penalties2 for treating the money as a gift even though they followed one alternative course recommended by the tax lawyer and even though the Commissioner herself relied on their theory in asserting tax liability of the girls’ father.3 Under these circumstances, the Tax Court’s imposition of the penalties was clearly erroneous. The…
2Cases cited11 opinions
- United States v. BoyleSupreme Court of the United States · 1985
- Graves v. United StatesSupreme Court of the United States · 1893
- David E. Heasley and Kathleen Heasley v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1990
- Gregory W. McKay v. Commissioner of the Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1989
- Dale K. And Donna L. Sandvall v. Commissioner Internal Revenue, Dale K. And Donna L. Sandvall v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1990
6 more not listed; retrieve them via the Exa API.
3Cited by57 opinions
- Streber v. HunterCourt of Appeals for the Fifth Circuit · 2000
- Securities & Exchange Commission v. Life Partners Holdings, Inc.Court of Appeals for the Fifth Circuit · 2017
- Long Term Capital Holdings v. United StatesDistrict Court, D. Connecticut · 2004
- Green v. CommissionerCourt of Appeals for the Fifth Circuit · 2007
- Southgate Master Fund, L.L.C. Ex Rel. Montgomery Capital Advisors, LLC v. United StatesCourt of Appeals for the Fifth Circuit · 2011
52 more not listed; retrieve them via the Exa API.