Block Developers LLC et al. v. Commissioner: Indirect Partners – No Notice for You!

In Block Developers LLC et al. v. Commissioner, T.C. Memo. 2017-142, the Tax Court held that the IRS was not required to notify a partnership’s indirect partners of the beginning of administrative proceedings. In addition, it held that the partnership was used as a conduit to transfer funds to the indirect partners’ Roth IRAs and that the transfers were excess contributions subject to excise taxes.

See full opinion of Block Developers LLC by clicking here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s