The U.S. Supreme Court on Dec. 3 held that the 40 percent gross valuation misstatement penalty applies to partnerships that understate their capital-gains tax liability by inflating the cost of acquiring property that is later sold.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.