The IRS has aggressively attacked basis shifting tax shelters involving nonqualified redemptions. Discuss the potential issues involved in nonqualified redemptions and the progress of the IRS in attacking these shelters.
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this was because they shifted to the stock that was attributed and thus caused the redemption to be treated as a divide.it was unreasonable for the taxpayers to conclude that the reguratory example could be applied to many manners of redemption.
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