The Eleventh Circuit Looks at Valuation Misstatement Penalties.

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This post covers a recent Eleventh Circuit opinion holding that the enhanced 40% penalty for a basis overstatement should be applied in cases where a transaction is disallowed for lack of economic substance making basis zero.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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