In Brief: Deducting Income from Prior Tax Years under “Claim of Right”

Under IRS Code Section 1341(a), a taxpayer can utilize a deduction when a taxpayer restores a substantial amount held under a claim of right “if (1) an item was included in gross income for a prior taxable year (or years) because it appeared that the taxpayer had an unrestricted right to such item; (2) a […]

A Friendly Reminder…

…that every large corporation was once a small business The humble beginnings of the international motor cycle corporation Harley Davidson, Inc.

Analysis of KaloBios Securities Fraud Claims

When I recently read KaloBios (Ticker “KBIO”) had filed for bankruptcy as a results of events tied to Martin Shkreli’s recent arrest, the securities litigator in me wondered what strategies would I take if I represented class plaintiffs or defendants in one of the class action lawsuits?