Tuesday, November 29, 2005
The Tax Court yesterday released Hightower v. Commissioner, T.C. Memo. 2005-274, an unremarkable case ezcept that the taxpayer -- Glenn Hightower -- represented himself in an unsuccessful attempt to avoid tax on the sale of his S Corp shares for $41.5 million. The ever-understated Joe Kristan notes:
This seems like deep water for a non-lawyer to swim in. But Mr. Hightower, while out almost $8 million in taxes, at least isn't out the legal fees.