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Debt From KPMG Tax Shelter Survives Bankruptcy

Debt From KPMG Tax Shelter Survives Bankruptcy

Originally published on Forbes.com Sept 2nd, 2014 Reading appellate tax decision, there is as bad as it gets, which is appealing your sentence after you have been incarcerated.  Almost as bad as it gets is appealing a bankruptcy court refusing to discharge your tax...

Tea Party Patriots Inc Dodging Tax On E-mail Fees?

Originally published on Forbes.com Aug 29th, 2014 Tea Party Patriots Inc has announced this week that it has a new funding source.Tea Party Patriots will be allowing third parties to send e-mails to its list in exchange for a fee. TPP expects to generate between...
IRS Will Not Tax Forfeited Jackpots Of Compulsive Gamblers

IRS Will Not Tax Forfeited Jackpots Of Compulsive Gamblers

Originally published on Forbes.com Aug 28th, 2014 The IRS Chief Counsel has ruled on a tax aspect of a program to help compulsive gamblers.  CCA 201433015 discusses the “Voluntary Exclusion Program” (VEP) of an unnamed state. The precise details of VEPs...
Do You Need To Maximize Rents To Claim Rental Losses?

Do You Need To Maximize Rents To Claim Rental Losses?

Originally published on Forbes.com Aug 26th, 2014 Does a taxpayer face tax trouble from not maximizing the rent?.   That seems to be the holding in a recent Tax Court decision in the case of Harrison Hunter.  I’m not sure that Mr. Hunter should have actually...