(United States Fourth Circuit) - In a case involving the federal income tax treatment of shares of stock issued to an executive employee,the Tax Court's judgment in favor of the IRS is affirmed where: 1) the IRS complied with all relevant procedural requirements in issuing the Notice of Deficiency; and 2) the tax court did not err in concluding that the stock failed to qualify as a deductible expense for the tax year ending March 31, 2009, and because the stock was not issued subject to a substantial risk of forfeiture.
Source: findlaw.com