Samuel Wegbreit, et al v. CIR
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January 04, 2022
7th Circ. Affirms Couple's Liability On $15M In Income
The Seventh Circuit affirmed a U.S. Tax Court decision that a couple were liable for taxes on nearly $15 million in underreported income and a fraud penalty, saying their only two coherent, germane arguments were waived.
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December 07, 2020
7th Circ. Skeptical Of Couple's Bid To Undo Tax Court Ruling
A Seventh Circuit judge said during oral argument Monday that an Illinois couple seeking to reverse a U.S. Tax Court decision deeming their trust a tax sham appeared to have waived arguments that they were intimidated by Internal Revenue Service counsel and that their income gains were wrongly tallied.
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July 15, 2020
7th Circ. Urged To Undo Tax Court Ruling That Trust Is Sham
An Illinois couple asked the Seventh Circuit to reverse a U.S. Tax Court decision deeming their trust a tax sham because they contend the ruling neglected to follow precedent that penalties shouldn't apply when taxpayers have relied on lawyers' advice.