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Former IRS Investigator Joe Banister Loses Appeal Of Aiding And Abetting Penalties
Back in 2003, the IRS Office of Professional Responsibility revoked Banister’s right to represent clients before the IRS. He had that right as a CPA. A follow on to the OPR ruling would be revocation of his CPA license, but that is neither here nor there. The revocation was appealed to the Ninth Circuit where it was sustained. Among the things involved in the revocation was his raising the 861 argument. He should have known better so he can no longer represent taxpayers. Since the issue of him making a bad argument has been litigated once with respect to the revocation, he does not get to fight it again with respect to the penalty. That was the District Court ruling.
Former IRS Investigator Joe Banister Loses Appeal Of Aiding And Abetting Penalties
Originally published on Forbes.com December 10, 2017. Joseph Banister, a former KPMG accountant turned IRS investigator turned anti-tax activist , has lost another...
Tax Court IRS And Secret Law
The Tax Court is letting us down when it comes to electronic transparency. Public documents, such as briefs and petitions, that are readily available from other federal courts are effectively inaccessible to those of us who don’t live or work in the nation’s capital. And maybe the IRS and even some law firms like it that way. Rather than write about this abstractly, I would like to show it to you as we go along. I’m going to use a decision I recently blogged about – an important hobby loss case (Section 183).
Donald Trump Floridian
One of the problems with the New York to Florida switch is that being a New Yorker is a very distinctive identity – Floridian not so much. And Trump for all his many faults in my mind is a consummate New Yorker. He can register to vote in Florida, file a Florida domicile declaration and apply for a homestead exemption on the family residence portion of Mar-a-Lago. Those are the basics, but what else can he do?
He can read A Land Remembered or at least talk about what a great book it is, even if he never reads it. He can have one of his minions read it for him. Beyond that, he can start using his twitter account to signal his change in loyalties.
Flow-Through Relief – Senate Version Of Tax Bill Is Much Better For The Little People
One of the themes of the various Republican campaigns was about how awful it was to have a 70,000-page tax code. Never mind that that was inflated by a factor of more than ten. Making the Code shorter was a priority. It is true that the bill might make returns easier for most of the little people because a lot fewer people will itemize. The taxation of business income is, however, much more complex under either version. And with the Senate leaving the AMT in effect, I think we will see the page count increase significantly.
President Trump Needs My Three Bucks To Make America Great And I’m Letting Him Down
As the month of November is closing down, I'm going to be letting my buddy Donald down - again. It's really not right for me to call the President of the United States...
Hovindology Update
The latest news in the Hovindology/Hovindicator world is rumors of Kent Hovind's divorce from Mary Tocco. My view is that Hovindologists should pretty much leave the...
Stunning Tax Court Victory Against IRS In Horse Case
Earlier this month I had the pleasure of meeting Mr. Taishoff. I spent the day in Manhattan and managed to arrange a lunch with him at a little French place where I had Le Burger. I managed to grab the check and Mr. Taishoff nodded approvingly as I wrote his name on the back of the credit card receipt before starting the long walk to the statue of George M. Cohan who did not have to concern himself with such things.
Citigroup Ready For Sharp Earnings Hit If Tax Cuts And Jobs Bill Passes
So Citigroup is ready, but it is not clear that anybody else is. If President Trump does get a bill to sign with the big corporate rate cut and the deemed repatriation, analysts in the future will have to put an asterisk next to 2017 earnings when they are looking at trends. It will be interesting to see how shocked everybody is when the earnings reports come in.
I expected that the tax cut would have a favorable impact on Apple’s earnings to the tune of over nine billion dollars, but I was only thinking about its deferred tax liability. Apple has $232 billion in untaxed foreign earnings and will get hit with some percentage of that from the deemed repatriation, if the bill passes. Why did I look at Apple? Well its ticker AAPL is first in the alphabet. I will leave it to my readers to work their way through the rest of the S&P.
Colonel Retread The Best And Worst Memoir I Have Ever Read
The Recollections of Colonel Retread 1942-1945 Carlton Ketchum Hart Books 1976 I don't know what it tells you about an author when you pick up a personally...