The Rescission Doctrine: Everything Old is New Again

53 Pages Posted: 24 Apr 2018 Last revised: 12 Jul 2018

Multiple version iconThere are 2 versions of this paper

Date Written: 2015

Abstract

This Article considers rescissions-attempts by parties to undo a transaction and have that undoing respected for federal tax purposes. Some commentators have questioned the legal basis for the rescission doctrine as applied by the Internal Revenue Service, and others have argued for expansion or restriction of the doctrine. This Article traces the development of the rescission doctrine, examines a critical article that argues that there is no legal precedent that truly supports the rescission doctrine as it is currently applied by the Internal Revenue Service, considers whether there exists sufficient legal authority for the doctrine as applied by the Internal Revenue Service, and briefly considers alternatives.

Keywords: Rescission Doctrine, IRS, Internal Revenue Service, Transaction, Tax

Suggested Citation

Sparkman, Allen, The Rescission Doctrine: Everything Old is New Again (2015). American University Business Law Review, Vol. 4, No. 2, 183, Available at SSRN: https://ssrn.com/abstract=3156801

Allen Sparkman (Contact Author)

Sparkman + Foote LLP ( email )

1200 Binz St Ste 650
Houston, TX 77004
United States

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