Tax shelter promoters cast a long shadow might be the lesson from last months Tax Court decision in the case of Clyde Arashiro. Here is the rough chronology according to the Tax Court decision. On October 17, 2011 the Tax Court entered an order of dismissal on the Shorthorn case. Generally dismissal means a taxpayer loss, since it is always the taxpayer who comes to the Tax Court. Of course there are many reasons why I am not a Tax Court judge and now we have just added another.

Source: Forbes November 28, 2016 01:18 UTC