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lilo |
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Do you have to alternately be Clark Kent, mild mannered tax guy, and then TAXMAN or WONDER WOMAN--able to run faster than a speeding IRS agent and to leap LILOs and SILOs in a single bound? The IRS says that Lilos confer only a future interest in property, not a current leasehold interest. The ruling indicates that the IRS is redirecting its challenge of LILOs beyond a mere finding of lack of economic substance, to focus on a more technical approach. |
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