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Wednesday, December 28, 2011

10th Circuit Rejects Billionaire Philip Anschutz's Tax Shelter

AnschutzThe Tenth Circuit yesterday affirmed the Tax Court's disallowance of billionaire Philip Anschutz's use of variable prepaid forward contracts with Donaldson, Lufkin & Jenrette to avoid $144 million in capital gains taxes. Anschutz Co. v. Commissioner, No 11-9001 (Dec, 27, 2011).

Prior TaxProf Blog coverage:

http://taxprof.typepad.com/taxprof_blog/2011/12/10th-circuit.html

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Comments

How nice to see Anschutz get his grimy knuckles whacked once in a while.

Posted by: Mary Hartnett Bicknese | Dec 28, 2011 3:45:36 PM