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IRS Can Sometimes Collect Corporate Tax From Former Shareholders

IRS Can Sometimes Collect Corporate Tax From Former Shareholders

As a tax professional, few things horrify me more than appreciated assets inside a C corporation. That was at the root of a recent  Eighth Circuit decision Stuart v Commissioner.  William Stuart had been a shareholder in Little Salt Inc. Little Salt Inc in Lincoln,...

New York Times Analysis Of Trump’s Tax Position Misses A Lot

Originally published on Forbes.com. The New York Times tax archaeology team has solved another mystery. How Donald Trump got to keep the $900 million net operating loss that they uncovered in their last expedition.  I have to give them credit for making some pretty...

Jill Stein Finds It Is Not Easy Being Green

Originally published on Forbes.com. I was a little bit puzzled by the skimpiness of Jill Stein’s tax disclosure. When I interviewed her in 2012, she said that she would be releasing her returns “soon”, but it never happened.  Finally, she did do...
Law Professor Calls Trump’s Tax Losses Fake

Law Professor Calls Trump’s Tax Losses Fake

The tax geek crowd is really ganging up on Donald Trump for his over $900 million loss in 1995.    Professor Calvin Johnson of University of Texas at Austin Law School has weighed in with “Were Trump’s Fake Losses Legal as Tax Deductions? (download).  Fake...