Sunday, November 29, 2009

Tax Court Awards $323k in Attorneys' Fees to Two Kersting Tax Shelter Investors Because of IRS Misconduct

The Tax Court on Wednesday awarded $322,693 in attorneys' fees (after a 33.3% reduction for "overlawyering") and $15,290 in expenses under § 6673(a)(2)(B) to two Kersting tax shelter investors (Kersting v. Commissioner, T.C. Memo. 1999-197 (June 17, 1999)) for expenses incurred during the remand proceedings stemming from IRS misconduct. Hongsermeier v. Commissioner, T.C. Memo. 2009-273 (Nov. 25, 2009). Prior TaxProf Blog coverage:

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