The Charles Schwab Corporation and Includable Subsidiaries v. Commissioner of Internal Revenue

161 F.3d 1231 82 A.F.T.R.2d 98-7364, 99-1 USTC P 50,109, 98 Cal. Daily Op. Serv. 8958, 98 Daily Journal D.A.R. 12,549 The CHARLES SCHWAB CORPORATION and Includable Subsidiaries, Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee. No. 97-70917. United States Court of Appeals, Ninth Circuit. Argued and Submitted Nov. 5, 1998. Decided Dec. 9, 1998. Glen A. Smith, Heller, Ehrman, White & McAuliffe, San Francisco, California, for the petitioner-appellant. Paula K. Speck, United States Department of Justice, Washington, DC, for the respondent-appellee. Appeal from a Decision of the United States Tax Court Robert P. Ruwe, Tax Court Judge, Presiding. Tax Ct. No. 1271-92. Before: ALARCON, O'SCANNLAIN and FERNANDEZ, Circuit Judges. ORDER [1] We adopt the reasoning of the Tax Court in Charles Schwab Corp. v. Commissioner of Internal Revenue, 107 T.C. 282, 1996 WL 659390 (1996), and AFFIRM its opinion.