Most Recent Posts
Judge In Tax Protester Case Pushed IRS To Investigate Promoter Glen Stoll
Stoll had been blatantly violating a federal court injunction for 15 years and the government did nothing. The United States and IRS CID focus far too much on the victims of these tax fraud promoters and not nearly enough on the systemic and institutional threat that Stoll’s financial terrorism represents. Low hanging fruit like the Brady’s should never have been at the top of the government’s list. It is an embarrassment that Mr. Stoll would have continued to thumb his nose at the government except for the strong, and unusual, intervention by Judge Jones to demand that, in addition to the Brady’s, Stoll be investigated and prosecuted.
Reuse Appraiser Pleased IRS Finally Taking Action On Abuses
A lot of emphasis is being placed on proper protocols within our industry and the pros and cons of specific practices are being considered. Appraisal associations, the IRS, TAF, USPAP, and industry stakeholders are all contributing to this effort. While the Mann and Loube cases do little to affect change within the reuse appraisal specialty, simply having the outcome available to set precedence is a powerful tool and eliminates the unchecked perpetuation of the practices and methodologies outlined in the case.
Tax Court’s New DAWSON Document System Achieves New Low In Transparency
Judicial opinions serve many purposes: they assist attorneys in advising clients and preparing cases; they provide the lower court’s rationale when the appellate court must evaluate its decision; they inform the public of the court’s analysis; and they establish clear and articulate rules for the future.
Build Reuse Chairman Mike Gable Responds To Mann Decision
Finally a “complete inventory” encompasses the building components the nonprofit receives at its physical location or takes possession of and not what it may have inventoried before deconstruction or stated an intention to accept as a donation. The “complete inventory” is material to which the appraiser assigns the value that will be used by the donor on her/his taxes.
GameStop Triggers My Wall Street Memories
Uncle Mike decided to consult with his Wall Street neighbor, my old man, about investing in stocks. The old man told the much older man to pay off his mortgage. As the story goes Uncle Mike was grateful for his advice.
IRS Collections Appears To Be Broken
At the end of the 2019 Fiscal Year there 74,369 people working for the IRS. That compares to 94,711 in 2010. In 1995 there were 113,643. That is why liens and levies are down and waiting out the ten year statute is now a viable strategy.
Congressional Democrats Want It Made Clear That Insurrection Is Not A Tax Exempt Activity
The guidance should clarify what specific actions and conduct are not permissible by a tax-exempt organization in support of an attack on the Capitol or any Federal or state persons or buildings.
National Housing Trust Responds To Housing Credit Right Of First Refusal Litigation
The National Housing Trust and our mission-driven partners intend to challenge “Aggregators” like Alden Torch, which seek windfall returns by demanding the payment of money from the general partner — either from its balance sheet or from the property’s reserves — or to insist the property be sold, stripping resources out of the property and the community. We will fight this battle with every tool available,
After The Low Income Housing Tax Credits Are Done, Investors Want More
By the end of the Compliance Period, the project owner will have collected all of the Tax Credits, and other tax benefits, and is clear of any risk of recapture, thereby providing the investor limited partner or member with full realization of the economic benefits it bargained for and expected when negotiating admission to the project owner.
New Class Action Suit Against Conservation Easement Promoters
The key is to have one or more principal actor defendants who have deep pockets and, at the end of the day, will be concerned that there is some litigation risk that the jury may put the actions on a continuum and decide the case relatively. Sure the taxpayer investors were greedy and should have smelled a rat, but we (the jury) are still going to punish the rat who is the worse actor.