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Robert E. McKenzie quoted in Forbes articles on Supreme Court decision in Home Concrete case

Arnstein & Lehr Attorney Robert E. McKenzie

Robert E. McKenzie

Arnstein & Lehr Chicago Partner Robert E. McKenzie was quoted in two April 25 articles and an April 27 article in the Forbes website. The articles, titled “Supreme Court Takes Break From Obamacare To Bail 1% Out Of Abusive Shelters,” “Huge Taxpayer Win: Supreme Court Tells IRS 3 Years To Audit Is Plenty,” and “Supreme Court Has Taken Ammunition From IRS in Son of Boss Cases – Time To Fix Bayonets,” discuss the Supreme Court’s ruling that the three-year statue of limitations period for the IRS to assess a deficiency against a taxpayer is extended to six years when a taxpayer “omits” more than 25% of their gross income, however the extended limitations period is not triggered if a taxpayer overstates their basis, thereby understating their gross income. Mr. McKenzie comments that four of his clients with similar issues would likely reap tax savings of almost $40 million as a result of this case.

To read “Supreme Court Takes Break From Obamacare To Bail 1% Out of Abusive Shelters,” click here.
To read “Huge Taxpayer Win: Supreme Court Tells IRS 3 Years To Audit Is Plenty,” click here.
To read “Supreme Court Has Taken Ammunition From IRS in Son of Boss Cases – Time to Fix Bayonets,” click here.