Saturday, September 3, 2011
The Tax Court on Thursday became the second court to reject the Distressed Asset Trust (DAT)/Distressed Asset Debt (DAD) tax shelter pioneered by John E. Rogers, a former tax partner at Seyfarth Shaw (Chicago). Superior Trading LLC v. Commissioner, 137 T.C. No. 6 (Sept. 1, 2011).
(Hat Tip: Richard Jacobus.) Prior TaxProf Blog coverage:
- Court Rejects $1.1b Tax Losses Claimed by Andrew Beal in DAD Tax Shelter (Aug. 20, 2009)
- Andrew Beal Appeals Denial of $1.1b DAD Tax Shelter Losses (May 31, 2010)
- 5th Circuit to Hear Andrew Beal's Appeal of $1.1b DAD Tax Shelter Loss (Aug. 1, 2010)
- DOJ Sues Former Seyfarth Shaw Partner Over DAT/DAD Tax Shelters (Nov. 4, 2010)