Most Recent Posts
Who Is Stuck With Tax Tab For Bang Energy Monster Sale? Jack Owoc Or The Creditors
Seems like everything becomes a tax story eventually and so it goes with the colorful controversial Jack H Owoc and his Vital Pharmaceuticals best known for its Bang...
Financial Engineering – Syndicated Conservation Easements
This table comes from the Tax Court decision in Mill Road 36 Henry LLC. In each case promoters applied for conditional zoning approval to build an assisted living...
Wall Street Journal Supports Abusive Conservation Tax Shelters
The Editorial Board made a glaring misstatement of the law in its editorial A Case of Tax Fraud – at the IRS.
Juror In Criminal Tax Case Sympathizing With The Rich, White And Entitled
Juror 26 claimed that prior to deliberations she had heard comments that three Black jurors were going to find the defendants guilty because they were “rich. white, and entitled”.
Park Poet Meditates On The Cohan Rule
We met Peter Chinman @theparkpoet. He is originally from Boston and now lives in Brooklyn. He has a degree in Philosophy. Both his parents are lawyers and they are OK with the different drummer he is marching to. He told me that he actually makes a living. Anyway he charges $1.00 to $100.00 for a poem. I decided to go with $20. For inspiration I used the T-Shirt I was wearing.
Rapper Tyga Buried Under $8 Million In Tax Debt Keeps Going Deeper
For this type of taxpayer the correct tax is more or less of just academic interest. It is in the nature of a sticker price or tuition at a well endowed university. The idea is that what the IRS will get is what the taxpayer can afford, their reasonable collection potential (RCP).
Timeshare Tax Shenanigans End With Large Penalties
This ruling is of more interest in how it makes us reflect on the time share industry and also tax shenanigans particularly those involving gifts of property of dubious value.
IRS Takes Aim At “Copyrighted” Trust Scheme
“Promoters of questionable tax schemes often distribute a “legal analysis” to potential victims. While these analyses might sound authoritative, they can sometimes resemble the output of ChatGPT in full hallucination mode.” – Ed Zollars
Tax Court Judge Suggests Glue Factory For Retired Thoroughbred Horses
But most horse owners have a more economically slit-eyed view toward things, and if they see a horse that’s not capable of racing and they can’t sell it, they’ll sell it to somebody who will get it up to Canada where there are slaughter houses and glue factories and the like.”
Stone Mining Company’s Donation Deduction For Land Given To Town Disallowed
The other problem was with the contemporaneous written acknowledgment. Even though there was an allusion to the litigation there was not an explicit enough statement of that being something that was received. Failure to have a good contemporaneous written acknowledgement means no deduction.