Block on Trump's Asylum Ban Upheld by Supreme Court
In the taxpayer's appeal from a tax court's ruling that the taxpayer could not deduct payments for cash distribution redemptive dividends, the order is affirmed where, because 26 U.S.C. section 404(k) did not provide for a deduction-for-dividends-paid under 26 U.S.C. section 561, the taxpayer did not have a "deduction for dividends paid (within the meaning of section 561)" needed to satisfy the exception in 26 U.S.C. section 162(k)(A)(iii).
Submitted: December 15, 2009
Filed: February 9, 2010
Opinion by Judge Benton