United States Ninth Circuit
Slone v. Commissioner of Internal Revenue, 16-73354
Held that shareholders were liable for taxes on proceeds from the sale of a close corporation. The Internal Revenue Service sued the shareholders, claiming they violated Arizona's Uniform Fraudulent Transfer Act by engaging in a complex series of stock and asset transactions that resulted in creating a debtor company unable to pay the tax bill. Agreeing with the IRS's position, the Ninth Circuit reversed a decision of the Tax Court and remanded with instructions to enter judgment in favor of the IRS.
Appellate Information
- Decided
- Published 2018/07/24
Judges
- Schroeder
Court
- United States Ninth Circuit