The late Ken Lay, onetime CEO of Enron, defeated the IRS in Tax Court yesterday. The case involved a dispute over Lay’s 2001 tax return and whether Lay received income from the sale of two annuity contracts to Enron. The Court sided with Lay’s estate (Lay passed away in 2006). You can find the entire 52-page Court ruling here. Bloomberg provides additional coverage.
“This blog post, along with comments that may follow, should not be considered tax advice. Before you make final tax or financial decisions, please secure a professional tax advisor to give you advice about your unique situation. To secure Jason as your accountant, please click on the ‘Services’ link at the top of the page.”