Procedural Issues
Dammit Felicia

Peak v. Commissioner
T.C. Memo. 2021-128

On November 10, 2021, the Tax Court issued a Memorandum Opinion in the case of Peak v. Commissioner (T.C. Memo. 2021-128). The primary issue presented in Peak was whether the petitioner was required to report as taxable income the full amounts of distributions he received from certain pension or retirement plans. Held: You betcha. Background to Peak v. Commissioner The petitioner received distributions from three different pension or retirement plans totaling a smidge over $14,000.

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Scott St. Amand April 1, 2022
Income Tax Issues
Contingent Fees

Holliday v. Commissioner
T.C. Memo. 2021-69

On June 7, 2021, the Tax Court issued a Memorandum Opinion in the case of Holliday v. Commissioner (T.C. Memo. 2021-69). The primary issue presented in Holliday v. Commissioner was whether settlement proceeds petitioner received in 2014 constitute taxable income. Background to Holliday v. Commissioner Two lawsuits are central to this case. The first is petitioner’s divorce proceeding, in which she was represented by J. Beverly and his law firm (divorce attorney and malpractice defendants,

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Scott St. Amand June 21, 2021
Income Tax Issues
Ailurophobia

Ex-Spousal Transfers of Property Long After Divorce

On February 14, 2013, Jethro and Lee Ann’s divorce became final.  Though the divorce was a foregone conclusion in your view, given Jethro’s unrepentant kleptomania and penchant for setting things on fire, still Uncle Bill and Aunt Ethel are torn up about their only son’s marital woes.  You think your lucky stars that you are a tax attorney and stay away from family law like the plague. Nonetheless, you have developed relationships with the family

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Scott St. Amand April 29, 2021
Income Tax Issues
Burden of Proof

Blum v. Commissioner
T.C. Memo. 2021-18

On February 18, 2021, the Tax Court issued a Memorandum Opinion in the case of Blum v. Commissioner (T.C. Memo. 2021-18). The primary issue presented in Blum v. Commissioner was whether the petitioner was entitled to exclude from her gross income the $125,000 settlement payment (from a suit against former attorneys who bungled a personal injury lawsuit on petitioner’s behalf) as damages received “on account of personal physical injuries or physical sickness” under IRC §

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Scott St. Amand February 18, 2021
Business Related Issues
Origin of the Claim Test

NCA Argyle LP v. Commissioner
T.C. Memo. 2020-56

On May 13, 2020, the Tax Court issued a Memorandum Opinion in the case of NCA Argyle LP v. Commissioner (T.C. Memo. 2020-56). The basic issue before the court in NCA Argyle LP v. Commissioner was whether proceeds received from the settlement of a lawsuit involving punitive damages which proceeds were received in exchange for the plaintiff/taxpayer’s interests in joint ventures (a capital asset) were properly treated as gain on the sale of a capital

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Scott St. Amand May 13, 2020
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Peak v. Commissioner
T.C. Memo. 2021-128

On November 10, 2021, the Tax Court issued a Memorandum Opinion in the case of Peak v. Commissioner (T.C. Memo. 2021-128). The primary issue presented in Peak was whether the petitioner was required to report as taxable income the full amounts of distributions he received from certain pension or retirement

Read More »
Scott St. Amand April 1, 2022

Holliday v. Commissioner
T.C. Memo. 2021-69

On June 7, 2021, the Tax Court issued a Memorandum Opinion in the case of Holliday v. Commissioner (T.C. Memo. 2021-69). The primary issue presented in Holliday v. Commissioner was whether settlement proceeds petitioner received in 2014 constitute taxable income. Background to Holliday v. Commissioner Two lawsuits are central to

Read More »
Scott St. Amand June 21, 2021

Ex-Spousal Transfers of Property Long After Divorce

On February 14, 2013, Jethro and Lee Ann’s divorce became final.  Though the divorce was a foregone conclusion in your view, given Jethro’s unrepentant kleptomania and penchant for setting things on fire, still Uncle Bill and Aunt Ethel are torn up about their only son’s marital woes.  You think your

Read More »
Scott St. Amand April 29, 2021

Blum v. Commissioner
T.C. Memo. 2021-18

On February 18, 2021, the Tax Court issued a Memorandum Opinion in the case of Blum v. Commissioner (T.C. Memo. 2021-18). The primary issue presented in Blum v. Commissioner was whether the petitioner was entitled to exclude from her gross income the $125,000 settlement payment (from a suit against former

Read More »
Scott St. Amand February 18, 2021

NCA Argyle LP v. Commissioner
T.C. Memo. 2020-56

On May 13, 2020, the Tax Court issued a Memorandum Opinion in the case of NCA Argyle LP v. Commissioner (T.C. Memo. 2020-56). The basic issue before the court in NCA Argyle LP v. Commissioner was whether proceeds received from the settlement of a lawsuit involving punitive damages which proceeds

Read More »
Scott St. Amand May 13, 2020