Tax - Your Tax Matters Partner

Park Poet Meditates On The Cohan Rule

by admin | Oct 3, 2023 | Books, Tax

So last week I went to Manhattan with my daughter Kaitlyn. That involves a lot of walking. We stayed at the Sheraton in Weehawken NJ, where Alexander Hamilton fell in a duel with Aaron Burr, and took the ferry in the evening and then the morning. Using the twenty...

Rapper Tyga Buried Under $8 Million In Tax Debt Keeps Going Deeper

by admin | Sep 28, 2023 | Tax, Uncategorized

Michael R. Stevenson is better known by his stage name of Tyga, Tyga is a successful rapper, who like many celebrities has found his way to Tax Court. His attorneys were pushing back against an IRS levy notice on a balance due of over $2 million for just 2019. It...

Timeshare Tax Shenanigans End With Large Penalties

by admin | Sep 20, 2023 | Tax

When I saw the Ninth Circuit decision in the case of James Tarpey, something about it was familiar. It turns out that the opinion by Judge McKeown upholding a penalty of over $8 million dollars was the finale of a story I picked up on October 1, 2016 with Lawyer...

IRS Takes Aim At “Copyrighted” Trust Scheme

by admin | Sep 5, 2023 | Tax

I hate having the first thing I hear about a fantastic scheme to be that the IRS is onto it. That is what happened with the “copyrighted non-grantor irrevocable complex discretionary spendthrift trust” which sprinkled tax fairy dust on your assets so that...

Tax Court Judge Suggests Glue Factory For Retired Thoroughbred Horses

by admin | Aug 28, 2023 | Tax

Mark Holmes is noted as being one of the better writers among Tax Court judges. His work on the Estate of Michael Jackson read like a novel. This month he may have gone off the beam a bit in a bench opinion. There is something rather tasteless in bringing up glue...

Stone Mining Company’s Donation Deduction For Land Given To Town Disallowed

by admin | Aug 6, 2023 | Tax

Patrick Urda of the United States Tax Court dives into the technicalities of charitable contributions of property in Janet R. Braen et.al. It is about deduction for a bargain sale of land to a municipal government. As is usual, the story behind the story is probably...