Estate and Succession Planning
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Dean Mead’s Tax Department handles tax planning issues for businesses and individuals. The attorneys in our department have extensive experience in a full range of…
The U.S. Supreme Court has now reconciled a split in the Circuit Courts regarding whether an overstatement of a taxpayer’s basis in property that was disposed of in a recognition transaction could result in the application of a 6-year statute of limitations, instead of the normal 3-year limitations period. In US v. Home Concrete & Supply, LLC et al, 566 U.S. ___ (2012) (No.11-139), the Supreme Court, in accordance with previous Supreme Court precedent, held that an overstatement of basis is not equivalent to an omission from gross income and therefore, the 6-year limitations period does not apply.
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