Wednesday, March 24, 2010
Following up on my prior post, Government Wins First Son of BOSS Case to be Tried (Dec. 27, 2007): the Federal Circuit yesterday upheld the Court of Federal Claims decision in a Son of BOSS (bond option sales strategy) case that Jade Trading's $450,000 investment that generated more than $40 million in tax losses lacked economic substance. Jade Trading LLC v. United States, No. 2008-5045 (Fed. Cir. Mar. 23, 2010).