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Rescission Doctrine

3 published works

  1. Taft Tax Insights

    Did you know you may be able to treat a transaction as never happening if you unwind it in the same tax year?

    By James Duffy

    Occasionally, parties to a transaction may determine after closing that they would have been better off not completing the transaction. This may result from a misunderstanding of the facts or…

  2. Tax Law for the Closely Held Business

    Unwinding an Unwanted Transaction

    By Lou Vlahos

    Rescission As kids playing ball, we learned about the “do-over” rule, pursuant to which the player in question was allowed to try again, without penalty, whatever it was that they…

  3. Tax Law for the Closely Held Business

    Rescinding a Transaction

    By Lou Vlahos

    As kids playing ball, we learned about the “do-over” rule; following an unintended result  at the plate, the player in question was allowed to try again, without penalty.  As we…