by admin | Jul 11, 2022 | Uncategorized
An opinion by Tax Court Judge Thomas Wells in the combined cases of Jessica Walters and her parents David and Jean Walters is unusual among hobby loss cases (Section 183). At stake was over $110,000 in tax and penalties for the years 2011 and 2012. The issue was...
by admin | Jun 19, 2022 | Uncategorized
There may be a major turning point in the Year 15 Low Income Housing Tax Credit (LIHTC) controversy with the Sixth Circuit’s opinion in SunAmerica Housing Fund 1050 v Pathway of Pontiac Inc. The Sixth Circuit is taking the Sesame Street approach advanced by not...
by admin | Jun 16, 2022 | Uncategorized
It appears that Kansas will have to return $43 million in income tax plus interest to Gene Bicknell after a recent decision of the Supreme Court of The State of Kansas. This is the highest stake residence/domicile case I can recall. It is pretty dramatic. In 2021 ...
by admin | Jun 6, 2022 | Uncategorized
The Supreme Court does not muck around with Tax Court decisions very much. So Boechler, P.C v, Commissioner of Internal Revenue has a small but passionate group of people excited. It was a unanimous opinion delivered by Amy Coney Barrett. She managed to work in a...
by admin | May 29, 2022 | Uncategorized
There have been two important opinions in the Low Income Housing Tax Credit (LIHTC) Year 15 struggle so far this month. Both favor not-for-profit (NFP) sponsors. They each deserve their own post, so we will start with JER Hudson GP XXI LLC which came down May 2 from...
