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Arthur's dead, but its tax shelters litigate on

February 09, 2009

A U.S. District judge in California last week ruled that another "Son of BOSS" tax shelter - this one marketed by the late Arthur Andersen firm, lacked economic substance. In addition to denying the shelter benefits, the court smacked the participants with the 40% penalty for valuation misstatements.

Court victories for the mass-marketed tax shelters of the 1990s and early 2000s are thin on the ground.

Links:

The Tax Prof
Linda Beale

Tags: Arthur Andersen.Linda Beale.TaxProf.

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