Legal Opinion
Kerman v. Commissioner
Court of Appeals for the Sixth Circuit
Decided April 8, 2013No. 11-1822PublishedCited by 21 opinions
1Opinion of the Court
OPINION
LUDINGTON, District Judge.
A tax shelter can be legitimate — if the reported transaction has economic substance. But the shelter Mark Kerman participated in lacked such substance. The transaction had no purpose other than the creation of an income tax benefit. After Kerman claimed the benefit on his tax return, the IRS disallowed the deduction and imposed a valuation misstatement penalty pursuant to 26 U.S.C. § 6662(e), which was increased to 40 percent of the unpaid tax pursuant to § 6662(h). The tax court affirmed the IRS’s decision. Kerman appeals, contending that the shelter was…
2Cases cited30 opinions
- Daubert v. Merrell Dow Pharmaceuticals, Inc.Supreme Court of the United States · 1993
- Anderson v. City of Bessemer CitySupreme Court of the United States · 1985
- United States v. United States Gypsum Co.Supreme Court of the United States · 1948
- Indopco, Inc. v. CommissionerSupreme Court of the United States · 1992
- Jan M. Sexton Salmi v. Secretary of Health and Human ServicesCourt of Appeals for the Sixth Circuit · 1985
25 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- United States v. Troy HockenberryCourt of Appeals for the Sixth Circuit · 2013
- Bank of New York Mellon Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 2015
- Salem Financial, Inc. Ex Rel. Branch Investments LLC v. United StatesCourt of Appeals for the Federal Circuit · 2015
- United States v. Craig SnoddyCourt of Appeals for the Sixth Circuit · 2020
- Blum v. CommissionerCourt of Appeals for the Tenth Circuit · 2013
16 more not listed; retrieve them via the Exa API.