Overview
Larry Hill and Caitlin Tharp authored an article titled "Ninth Circ. Adds Pressure To Reject Substance Over Form" for Law360. The article, published August 2, highlights the Ninth Circuit’s recent decision rejecting taxes on a family's Roth IRA payments that were made through a foreign sales corporation. This decision represents a refreshing trend among federal appeals courts to reject substance-over-form principles and instead look to congressional intent. It is a reversal of the U.S. Tax Court's 2018 opinion, authored by Judge Michael Thornton, that found no economic substance for the transaction.
