Satellite Partners Fund, LLC, et al v. Cmsnr. IRS

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Case overview

Case Number:

18-1278

Court:

Appellate - DC Circuit

Nature of Suit:

- 

  1. November 26, 2019

    Partnership's Forex Trades Were Tax Sham, DC Circ. Affirms

    Ample evidence supported a U.S. Tax Court decision that a partnership rigged foreign currency trades with preset exchange rates to generate $144 million in sham tax losses, a District of Columbia Circuit Court panel ruled Tuesday.

  2. October 23, 2019

    IRS Never Proved Forex Trades Were Rigged, DC Circ. Hears

    A U.S. Tax Court decision that a partnership should be denied $141 million in tax losses for engaging in sham foreign currency transactions should be reversed because the IRS never proved the trades were rigged, the D.C. Circuit heard Wednesday.

  3. February 27, 2019

    IRS Never Proved Forex Traders' Rates Rigged, DC Circ. Told

    A business partnership that traded in foreign currency derivatives appealed a U.S. Tax Court conclusion that its transactions were a sham, telling the D.C. Circuit on Tuesday that the IRS never proved its trades were rigged.