American Boat Co., LLC v. United States

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that a partnership could raise its own reasonable-cause defense—separate from any partner-level, reasonable-cause defense— based on its managing partner’s conduct on the partnership’s behalf
• concluding that a partnership could raise its own reasonable-cause defense — separate from any partner-level, reasonable-cause defense— based on its managing partner’s conduct on the partnership’s behalf
• noting that neither of the two firms raised an objection to the taxpayer’s treatment of the transaction
• finding reasonable cause when taxpayer was a credible witness and he did not know the transaction held no profit potential
• affirming District Court's holding that tax matters partner reasonably relied on Mr. Mayer with regard to a Son-of-BOSS transaction from which the partnership began claiming substantial tax benefits in 1999
• affirming District Court’s holding that tax matters partner reasonably relied on Mr. Mayer with regard to a Son-of-BOSS transaction from which the partnership began claiming substantial tax benefits in 1999

Source: CourtListener parenthetical corpus (CC0).