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IRS More Liberal Than Tax Court on Home Mortgage Interest

IRS More Liberal Than Tax Court on Home Mortgage Interest

This was originally published on PAOO on November 10th, 2010. Rev. Rul. 2010-25, 2010-44 IRB 571, 10/14/2010 Back under the good old Internal Revenue Code of 1954, interest paid was pretty much deductible. In terms of making life complicated for those not among the...
We Only Wash Losses Here

We Only Wash Losses Here

  This was originally published on PAOO on November 8th, 2010. INFO 2010-0188   I’ve been sitting on this one for a while. It was issued July 27, 2010. It refers to the flash crash of the stock market on May 6 which caused many stop-loss orders to be...

And Another Purge

This was originally published on PAOO on November 17th, 2010. I was starting to worry about running out of material, but my last ramble through the hottest stuff on RIA indicated that I am well supplied for a while, so I will continue purging those items that I just...

Let The Sun Shine In

This was originally published on PAOO on 11/6/10. Private Letter Ruling 201043023 I’m going to do this as a bonus post because I don’t have the ability to expand on it much. They have figured out a way to make a “curtain wall” of glass where...
Inadvertent Termination

Inadvertent Termination

  This was originally published on  PAOO on November 5th, 2010. Private Letter Ruling 201042010, 10/22/2010 Years ago The Practical Accountant ran a series of cartoons. There would be two guys sitting on a park bench. One appeared to be a distinguished-looking...
Courts and Value Billing

Courts and Value Billing

This was originally published on PAOO on November 3rd, 2010. Canal Corporation and Subsidiaries v. Commissioner, 135 T.C. No. 9 KELLER, ET AL. v. U.S., Cite as 106 AFTR 2d 2010-6343, 09/15/2010 My father was fond of saying you need three things in life – a good...