C. Mark Wiley (’88) talks Supreme Court experience in U.S. v. Home Concrete & Supply

C. Mark Wiley (’85, JD ’88) is an attorney and Vice Chairman with Womble Carlyle Sandridge & Rice, LLP in the firm’s Winston-Salem, N.C. office. Wiley is no stranger to the area as a Double Deacon. His practices include healthcare transactions, tax law, and timberland resources. He helps companies plan efficient tax structures, and also works with clients to resolve tax controversies. In addition, Mark helps hospitals and physician groups form joint ventures. He received his Bar Admission to the U.S. Supreme Court in 2011 and worked on the U.S. Supreme Court case United States v. Home Concrete & Supply, LLC, argued on January 17, 2012.

Wiley and other attorneys with his firm successfully represented Home Concrete & Supply, LLC before the Fourth Circuit Court of Appeals and the United States Supreme Court (Home Concrete & Supply, et. al v. United States, (April 25, 2012) Case No. 11-139) in a case in which the Supreme Court in a landmark and closely watched case upheld the three-year income tax statute of limitations and ruled that income tax treasury regulations promulgated by the U.S. Treasury were invalid under the principles of Chevron, U.S.A. v. National Resources Defense Council, Inc., 467 U.S. 837 (1984).

This case is a significant statute of limitations tax case that resulted in a 5-4 decision in the favor of the taxpayers in U.S. Supreme Court in the Spring of 2012 after a long 6 year dispute with the US tax authorities. The case began in 1999, when Home & Concrete Supply, a heating oil and concrete business out of Salisbury, N.C., was sold for $10.6 million. The partners conducting the sale were advised to used a tax shelter, “Son of BOSS,” that allowed them to report a gain of only $69,000 from the sale. This particular tax shelter used does not include omission of income, and therefore should not be held liable to the IRS’s six year statute of limitations. After the initial arguments on January 17, the Supreme Court’s decision was announced on April 25, 2012. The Court ruled in favor of the taxpayers and against the IRS, saying the six-year statute of limitations was unlawful.

“It was a unique experience and one of the more rewarding ones that I have encountered in my 25 year professional legal career as a tax lawyer with Womble Carlyle Sandridge & Rice here in Winston-Salem. It was a great team effort and we were pleased with the decision which arguably affects every U.S. taxpayer with its holding regarding the 3 year statute of limitations…They’ve been fighting this one a long time,” Mr. Wiley said. The decision reinforces the standard three-year statute of limitations for IRS assessments. The case was written about in The Wall Street Journal and Winston-Salem Journal.

Read more about him in his firm bio.