Top Tax Cases of 2024, Part 3: C Corporations

Tony Nitti and Damien Martin from EY dive into the top tax cases of 2024, focusing on two pivotal C corporation cases, Ju et al v. United States and Stead v. Commissioner. They unravel the complexities of Qualified Small Business Stock (QSBS), discussing compliance, shareholder exclusions, and the vital role of clear documentation. The duo also explores the doctrine of constructive receipt through a tax court case, illustrating the intricacies taxpayers face with income recognition. Their engaging reflections on tax law dynamics promise to inspire proactive planning.