Tax,
9th U.S. Circuit Court of Appeals
Jun. 3, 2021
9th Circuit OKs Roth IRA corporate tax scheme
The decision is the latest in a series of rulings by circuit courts around the nation against the IRS in its challenges to the structure of corporations that made foreign sales and took advantage of tax breaks.
Reversing a decision by the U.S. Tax Court, a 9th U.S. Circuit Court of Appeals panel ruled Wednesday that the structure of a Congress-authorized corporation can avoid taxes by distributing dividends via Roth IRAs.
The decision is the latest in a series of rulings by circuit courts around the nation against the IRS in its challenges to the structure of corporations that made foreign sales and took advantage of tax breaks.
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