With the holidays approaching, many accountants are following through with year-end tax planning for their clients as well as making their own plans for the holidays (read – use my vacation days […]
Opinions, Decisions and Rulings Released This Week MCDONALD V. COMMISSIONER – T.C. Summary Opinion 2016-79 Issue: After conceding to the assessment of liability, was the wife eligible for relief from joint and […]
Opinions, Decisions and Rulings Released This Week BARNES V. COMMISSIONER – T.C. Memo 2016-212 Issue: Upon audit, taxpayer was found to have unreported income and unsubstantiated deductions for tax years 2008 and […]
Opinions, Decisions and Rulings Released This Week FRANKLIN v. COMMISSIONER – T.C. Memo. 2016-207 Issue: Did the IRS properly adjust taxpayer’s liability for S-corporation dividends, S-corporation basis adjustments and omitted discharge of […]
Opinions, Decisions and Rulings Released This Week WHISTLEBLOWER 26876-15W v. COMMISSIONER, 147 T.C. No. 12 Issue: Does a determination letter from the Whistleblower’s Office need a Director’s signature to be valid? Individual […]
Tax Related Legislation in the News This Week H.R. 5386: Presidential Tax Transparency Act Purpose: To amend the Federal Election Campaign Act of 1971 to require candidates of major parties for the […]
Opinions, Decisions and Rulings Released This Week STANLEY v. COMMISSIONER, T.C. Memo 2016-196 Issue: Were proceeds correctly categorized as nontaxable loans and were Schedule C deductions proper? Taxpayer (T) reported income for […]
Opinions, Decisions & Rulings Released this Week Talbot v. Commissioner – T.C. Memo 2016-191 Issue: Address error resulted in improper mailing of deficiency notice. Therefore, was the taxpayer given proper notification […]
Treasury Decisions in the News T.D. 9789 – IRS Final, Temporary Rules on Election to Take Disaster Loss Deduction for Preceding Year IRS has issued temporary rules interpreting Section 165(i) to allow […]
Tax Legislation H.R. 954 – CO-OP Consumer Protection Act of 2016 Purpose: To amend the Internal Revenue Code of 1986 to exempt individuals, whose health plans under the Consumer Operated and Oriented […]
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