Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose.
Tax Litigation: The Week of October 4 – October 8, 2021 -
Crim v....more
Can you be held liable for a tax liability owed by another taxpayer? Yes, under certain circumstances. The IRS uses fraudulent transfer law and “transferee” liability tools to collect unpaid taxes where a taxpayer has...more
12/8/2021
/ Criminal Liability ,
Department of Justice (DOJ) ,
FDCPA ,
Fraudulent Transfers ,
Income Taxes ,
IRS ,
Tax Liability ,
Tax Liens ,
Tax Planning ,
Transfer of Assets ,
Transferees ,
UFTA
The recent Tax Court opinion in McNulty v. Commissioner, 157 T.C. No. 10 (2021) addressed whether distributions from a purported self-directed IRA were taxable. The Court also took up the question of whether tax penalties...more
Over the past few years, cryptocurrencies such as Bitcoin and Ethereum have received the lion’s share of attention from crypto enthusiasts and investors, sending the price of these coins to new highs. The price of...more
Tax Court Litigation: The Week of September 20 – September 24, 2021 -
Daniel Omar Parker and Chantrell Antoine Parker v. Comm’r, No. 13231-19, T.C. Memo 2021-111 | September 23, 2021 | Lauber | Dkt. No. 13231-19 -...more
When is a protective refund claim available? Taxpayers often face uncertain outcomes in litigation or business transactions, giving rise to contingent tax refund claims. For example, if a pending lawsuit ends in a favorable...more
A recent IRS Criminal Investigation press release announced an indictment against a businessman charged with defrauding the United States by not disclosing offshore assets, failing to report income to the IRS, and submitting...more
11/5/2021
/ Criminal Investigations ,
Department of Justice (DOJ) ,
FBAR ,
Foreign Bank Accounts ,
Income Taxes ,
Indictments ,
IRS ,
Offshore Funds ,
Tax Crimes ,
Tax Evasion ,
Tax Returns ,
Wire Fraud
Tax Court Litigation: The Week of September 13 – September 17, 2021 -
Donna M. Sutherland v. Comm’r, No. 3634-18, T.C. Memo 2021-110 | September 16, 2021 | Lauber | Dkt. No. 3634-18 -
Short Summary: This is an...more
11/2/2021
/ Business Taxes ,
Criminal Investigations ,
Employment Tax ,
Income Taxes ,
IRS ,
Joint and Several Liability ,
Joint Tax Returns ,
Spouses ,
Tax Court ,
Tax Liability ,
Tax Returns
Tax Court Cases: The Week of August 30 – September 3, 2021 - Karson C. Kaebel v. Comm’r, No. 16171-18P, T.C. Memo 2021-109 | September 9, 2021 | Halpern | Dkt. No. 16171-18P - Tax Dispute Short Summary: This case focuses on...more
10/8/2021
/ Corporate Taxes ,
Deficiency Notices ,
Income Taxes ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
International Travel ,
IRS ,
Tax Court ,
Tax Deductions ,
Tax Liability ,
Tax Returns
The Cohan Rule: Tax Deductions with Incomplete Records -
The “Cohan rule” is derived from the Second Circuit’s 1930 decision, Cohan v. Commissioner, which allowed the taxpayer to approximate travel and entertainment...more
Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose.
Tax Court: The Week of August 30 – September 3, 2021 -
Tax Court...more
10/5/2021
/ Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Profit Sharing ,
S-Corporation ,
Tax Court ,
Tax Deductions ,
Tax Liability ,
Tax Planning ,
Tax Returns ,
Whistleblowers
Tax Litigation: The Week of August 23 – August 27, 2021 -
Tax Court Case: Estate of Charles P. Morgan, Deceased, Roxanna L. Morgan, Personal Representative and Roxanna L. Morgan v. Comm’r, T.C. Memo 2021-104 | August 23,...more
9/17/2021
/ Acquisitions ,
Business Taxes ,
Final Determinations ,
Income Taxes ,
Innocent Spouse Exception ,
IRS ,
Joint Tax Returns ,
Jurisdiction ,
Special Purpose Acquisition Companies (SPACs) ,
Startups ,
Tax Court ,
Tax Liability ,
Tax Planning
Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose.
The Week of August 16 – August 20, 2021 -
Catlett v. Comm’r, No....more
9/10/2021
/ Deficiency Notices ,
Federal Trade Commission (FTC) ,
Income Taxes ,
International Tax Issues ,
IRS ,
Net Investment Income ,
NIIT ,
Tax Court ,
Tax Credits ,
Tax Deductions ,
Tax Fraud ,
Tax Liability ,
Tax Planning ,
Whistleblowers
It’s a common scenario: A taxpayer misses the deadline to file an election with the IRS. What options does the taxpayer have now? I have helped many clients out of this jam, and it is a situation that often presents several...more
The executor of the Estate of Tamir Sapir is seeking a refund of more than $25 million of fiduciary income tax alleged to have been overpaid to the Internal Revenue Service (“IRS”). While the refund suit is currently teed up...more
9/3/2021
/ Discovery ,
Federal Rules of Civil Procedure ,
Income Taxes ,
IRS ,
Overpayment ,
Pleading Standards ,
Tax Court ,
Tax Liability ,
Tax Planning ,
Tax Refunds ,
Tax Returns
The 35% penalty under I.R.C. section 6677 for failing to report a distribution from a foreign trust applies against a person who is both the beneficiary and grantor/owner of a foreign trust. At least, that is now the rule...more
Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose.
The Week of August 9 – August 13, 2021 -
Manuelito B. Rodriguez &...more
A “qualified amended return” is an amended tax return that, if properly filed before a taxpayer is “on the IRS’s radar,” protects a taxpayer against accuracy-related penalties—in layman’s terms, it is a get-out-of-jail-free...more
Section 280E of the Internal Revenue Code prohibits taxpayers who are engaged in the business of trafficking certain controlled substances (including, most notably, marijuana) from deducting typical business expenses...more
This program is the first of Freeman Law’s multi-class course designed to prepare CPAs and Enrolled Agents for the Tax Court’s admissions examination. Participants will receive an overview of the Tax Court and will learn...more
8/19/2021
/ CPAs ,
Estate Tax ,
Federal Rules of Evidence ,
Gift Tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Legal Ethics ,
Subject Matter Jurisdiction ,
Tax Court ,
Tax Litigation ,
Webinars
Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose.
The Week of August 2 – August 6, 2021 - Belair v. Comm’r, Bench Opinion|...more
There are at least three questions when it comes to IRS tax disclosures: (1) Should a taxpayer disclose; (2) How should a taxpayer disclose; and (3) How much detail should be disclosed? Should a taxpayer simply append a...more
The Week of July 26 – July 31, 2021 -
Harrington v. Comm’r, T.C. Memo. 2021-95 | July 26, 2021 | Lauber, J. | Dkt. No. 13531-18 -
Short Summary: Mr. Harrington is a U.S. citizen; his wife is a dual citizen of the...more
The Report of Foreign Bank and Financial Accounts (i.e., the “FBAR”) was for many years confined to the lonely backwaters of Title 31 of the United States Code—the intriguingly-named Bank Secrecy Act. For years, compliance...more
The IRS recently concluded its 2021 four-part series of the “Dirty Dozen” tax-related scams. The fourth installment focuses on what the Service refers to as “schemes peddled by tax promoters, including syndicated...more