Russell Shappy, Jr., et al v. Commissioner of Internal Revenue

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Case Number:

24-2362

Court:

Appellate - 3rd Circuit

Nature of Suit:

tax court 

  1. October 30, 2025

    3rd Circ. Affirms Tax On Interest In $191M Pharma Family Feud

    A pharmaceutical company's $191 million payment settling a family feud was for the sale of a family trust's ownership shares and included interest taxed as ordinary income, the Third Circuit said Thursday, rejecting the trust's claim that the money should be taxed at the lower, capital gains rate.

  2. February 04, 2025

    3rd Circ. Urged To Nix Tax On $191M In Family Pharma Feud

    A pharmaceutical company's $191 million payment settling a family feud over shares of the business did not include imputed interest triggering higher taxes as the U.S. government claims, a trust for family members who received the money told the Third Circuit.