Tag Archives: shea homes

Ninth Circuit Opens the Door, IRS Slams It Shut (an update to IRS: “Shea It Ain’t So!” The Ninth Circuit Opens the Door for Real Estate Developer to Defer Income Tax)

On April 7, 2017, the IRS issued Action on Decision 2017-03, confirming that the IRS would not follow the Ninth Circuit’s ruling in Shea Homes, Inc. v. Commissioner, 834 F.3d 1061 (9th Cir. 2016). The Ninth Circuit’s decision in Shea Homes was widely perceived as a significant, albeit narrow, win for taxpayers engaged in real … Continue Reading

IRS: “Shea It Ain’t So!” The Ninth Circuit Opens The Door For Real Estate Developers to Defer Income Tax

In a coup for real estate developers, the Ninth Circuit affirmed the U.S. Tax Court’s approval of a real estate developer’s strategy to defer income in Shea Homes, Inc. v. Commissioner, 834 F.3d 1061 (9th Cir. 2016). The strategy appears fairly narrow, and will likely be the subject of future IRS challenges.… Continue Reading
LexBlog