Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Sunday, April 15, 2018

Article CRI-Leslie: Musings on Plain Meaning, Absurdity and Capital Gain

image from https://s3.amazonaws.com/feather-client-files-aviary-prod-us-east-1/2018-04-15/e8c3d851-4d1b-4e79-98f1-285a3e72aece.pngJeffrey A. Galant & Dana L. Mark published an Article entitled, CRI-Leslie: Musings on Plain Meaning, Absurdity and Capital Gain, Wills, Trusts, & Estates Law eJournal (2018). Provided below is an abstract of the Article:

CRI-Leslie, LLC v Commissioner is a noteworthy case of first impression involving the interpretation of Internal Revenue Code Section 1234A. In CRI-Leslie the U.S. Tax Court and the Eleventh Circuit U.S. Court of Appeals held against capital gain treatment for proceeds received as a result of the cancellation of a contract involving the sale of property. However, the greater importance of these decisions may be the illustration of the methodology used by the courts to interpret the Internal Revenue Code. Or, more to the point, whether the courts were justified in relying on the plain meaning rule rather than the legislative history in determining what Internal Revenue Code Section 1234A means.

http://lawprofessors.typepad.com/trusts_estates_prof/2018/04/article-cri-leslie-musings-on-plain-meaning-absurdity-and-capital-gain.html

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