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Tax Court Rejects Billionaire Anschutz’s Use of Variable Prepaid Forward Contracts to Avoid $144m Capital Gain

The Tax Court yesterday disallowed billionaire Philip Anschutz's use of variable prepaid forward contracts with Donaldson, Lufkin & Jenrette to avoid $144 million in capital gains taxes. Anschutz Co. v. Commissioner, 135 T.C. No. 5 (July 22, 2010).


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