Legal Opinion
Tifd Iii-E, Inc. v. United States
Court of Appeals for the Second Circuit
Decided January 24, 2012No. Docket 10-70-cvPublishedCited by 9 opinions
1Opinion of the Court
LEVAL, Circuit Judge:
This appeal requires us to examine for the second time the propriety of a partnership’s allocation (for tax purposes) of virtually all of its taxable income to two ostensible partners, both foreign banks, which are not subject to tax by the United States. The issues on appeal are (1) whether the foreign banks qualify as partners in the partnership under Internal Revenue Code (“I.R.C.”) § 704(e)(1), and (2), if not, whether a penalty was properly imposed by the Internal Revenue Service pursuant to I.R.C. § 704(e)(1).
In 1993, two Dutch banks, ING Bank N.V. and Rabo Merchant…
2Cases cited23 opinions
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Commissioner v. TowerSupreme Court of the United States · 1946
- Slayton v. American Express Co.Court of Appeals for the Second Circuit · 2010
- Commissioner of Internal Revenue v. OPP Holding Corp.Court of Appeals for the Second Circuit · 1935
- Woodbury v. CommissionerUnited States Tax Court · 1967
18 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Brown v. CommissionerCourt of Appeals for the Seventh Circuit · 2012
- Townley v. Blue Cross and Blue Shield of MichiganDistrict Court, E.D. Michigan · 2003
- Hewlett-Packard Co. v. Comm'rUnited States Tax Court · 2012
- TIFD III-E Inc. v. United StatesDistrict Court, D. Connecticut · 2014
- Cohen v. United StatesDistrict Court, S.D. New York · 2014
4 more not listed; retrieve them via the Exa API.