Biggest Federal Tax Cases Of 2015
By Eric Kroh
Dec. 23, 2015
Schaeffler v. U.S.
The Second Circuit in November ruled that a German auto parts supplier didn’t waive attorney-client privilege by sharing tax advice prepared by Ernst & Young with a consortium of banks, overturning a district court decision that the documents weren’t privileged.
Although time will tell whether the Second Circuit’s Schaeffler decision represents a wide-reaching pronouncement or a targeted ruling reflecting the unique circumstances of the case, tax practitioners said the court upheld important privacy protections.
“It’s a good decision from a taxpayer perspective,” Linda Galler, a professor at the Maurice A. Deane School of Law at Hofstra University and senior tax counsel at Curtis Mallet-Prevost Colt & Mosle LLP, said. “I think the court got it absolutely right.”