Tax courts rejects "bad faith" requirement as prerequisite to finding disguised dividend

Article Abstract:

Tax Court dispensed with the need to prove "bad faith" for identifying disguised dividend in Menard, Inc. TCM 2005-3. The Wisconsin based company is a retailer of hardware and building supplies. The details about the case are furnished.

Financial management, STONE, CLAY, AND GLASS PRODUCTS, Wisconsin, Building materials industry, Investor relations, Recognition of gain or loss (Taxation), Recognized gain or loss (Taxation), Menard Inc.

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C corporations - interest deductions disallowed

Article Abstract:

The tax court disallowed the taxpayer corporation's claimed interest deductions in Indmar Products Co., Inc., TCM 2005-32 and upheld the characterization by IRS. The details of the marine engine manufacturer's case are presented.

Radio & TV communications equipment, Boat Building, Boat building and repairing, Boat Building & Repair, Hardware, not elsewhere classified, Interest deductions, Boating industry, United States. Internal Revenue Service, Indmar Products Company Inc.

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Losses incurred during tax year in which shareholder files for bankruptcy

Article Abstract:

Details of a case Williams 123 TC No.8 (2004) in The United States is presented. The case was between a tax payer and S corporations about bankruptcy charges.

S corporations, Bankruptcy, Company bankruptcy

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