Does Resser "spell relief" for the innocent spouse?
Article Abstract:
The US Court of Appeals for the Seventh Circuit accepted the innocent spouse defense in Resser v. Commissioner despite the facts that Mrs. Resser engaged in an affluent lifestyle and was well-educated. In reversing the Tax Court's decision that she could be found jointly and severally liable for taxes and penalties from her husband's substantial underpayment of income tax, the Court focused on whether holding her liable would be equitable. The Court found her limited inquiries into her husband's finances to be reasonable, in part, because of the tax complexity of his options trading.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1996
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Short but not so sweet
Article Abstract:
United Kingdom companies are allowed to send stockholders summaries rather than full corporate reports. This has advantages for the company such as the lower cost of producing and sending the reports, and the focus on selected items of information. Investors may prefer to read shorter reports, but they may miss key items if they do not read the longer version with its detailed notes. This applies to Emap, which is sending a summary, and has undergone major changes in 1996 to 1997.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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