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Edna Louis Dunn Trust V. Commissioner: A Movement From The 5 Year Rule To The Device Clause Under Section 355, Delaine Frangos

Northern Illinois University Law Review

An examination of Dunn Trust v. Commissioner, wherein the Supreme Court refused to expand the 5-year rule of section 355 to encompass an indirect distribution. This narrow application of the 5-year rule shifts emphasis to the device clause, the more appropriate provision for evaluating sham separations.