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Taxation & Estate Planning

: TaxProf Blog

Tax Court Rejects Billionaire Anschutz Use of Variable Prepaid Forward Contracts to Avoid $144m Capital Gains Tax

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The Tax Court yesterday disallowed billionaire Philip Anschutz's use of variable prepaid forward contracts with Donaldson, Lufkin & Jenrette to avoid $144 million of taxes. Anschutz Co. v. Commissioner, 135 T.C. No. 5 (July 22, 2010). Bloomberg, Billionaire Anschutz Loses Capital Gains Ruling Over $144 Million Tax Bill Forbes, Billionaire...

Full post as published by TaxProf Blog on July 23, 2010 (boomark / email).

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