On April 21, the U.S. Court of Appeals for the 10th Circuit issued its Liberty Global opinion, a decision with potentially far reaching implications for tax planning. The court emphasized that technical compliance with the Tax Code, standing alone, may not be sufficient to withstand scrutiny under the economic substance doctrine. Of particular note, the court agreed with the district court that the proper measurement for application of the economic substance doctrine is the entirety of a transaction and, thus, the doctrine is relevant where taxpayers mechanically utilize provisions of the Tax Code to obtain a benefit not intended by Congress.
This program will highlight key takeaways from the decision and discuss the implications and considerations clients should be evaluating when assessing existing structures and future planning.
CLE
CLE will be applied for, where applicable.
Questions?
Please contact amanda.vercruysse@alston.com or +1 202 239 3068.