Tax
May 18, 2013
You can unwind the deal, but not necessarily the taxes
Occasionally we all want to start over and try again, but can you ever really go back?
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Occasionally we all want to start over and try again, but can you ever go back? It should be simple, but sometimes it can feel like putting spilled milk back in the bottle. Still, once in awhile we all have to undo a deal, either because we want to or because the other side forces it.
We may call it a do-over on the schoolyard or athletic field, but the pertinent legal doctrine is rescission. It has had a storied tradition in c...
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