James Williams

Jul 30, 2024 | mondaq.com | Mark Leeds |James Williams

Berman v. Comm'r,1 released on July 16, 2024, is a great example of making lemonade when life hands you a lemon. Although the taxpayers lost the federal income tax deferral of a stock sale to an employee stock ownership plan (an "ESOP") by entering into a constructive sale of their qualified replacement property ("QRP"), they were able to avoid full current taxation by establishing that the constructive sale was entitled to installment sale treatment.