- 4 -
Projections...................... 123
f. Insertion of Other Entities...... 128
B. Lack of Profit Objective of the
Employee Leasing Partnerships.............. 129
II. The Pettisanis Are Not Entitled to
Deductions for Interest Claimed on Their
Long-Term Notes............................... 138
III. Intercoastal Is Not Entitled To Deduct From
Its Income the Accrued Interest, Management
Fees, or Override Payments to the Leasing
Partnerships.................................. 141
IV. The Transactions at Issue Are Not
Recognized for Purposes of Claiming
Deductions or Reporting Income................ 145
A. In Summary................................. 145
B. No Procedural Defense to Determined
Deficiencies............................... 146
C. No Need To Address Other Issues............ 151
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011