Rogers v. Comm'r of Internal Revenue, No. 12-2652 (7th Cir. 2013)Annotate this Case
The Tax Court found that in 2003 Rogers and his wife failed without justification to report $984,655 of taxable income attributable to income of PPI, an S corporation wholly owned by Rogers, and to a distribution that he had received from PPI. The Seventh Circuit affirmed, rejecting arguments that the disputed income had been held in trust for third parties and was not taxable to Rogers.