Donald Kipnis v. Bayerische Hypo-Und Vereinsbank, AG

The facts of this case are more fully set out in this Court’s prior opinion. See Kipnis v. Bayerische Hypo-Und Vereinsbank, AG, 784 F.3d 771 (11th Cir. 2015). By way of brief review, the plaintiffs and defendants Bayerische Hypo-Und Vereinsbank, AG and HVB U.S. Finance, Inc. (collectively, “HVB”) participated in a tax-shelter scheme known as CARDS. Id. at 773-75. The CARDS transaction at issue took place from December 2000 until December 2001. Id. at 774-76.

In October 2007, after HVB publicly admitted fault for participating in CARDS schemes, the Internal Revenue Service (“IRS”) issued…