Bad Debt Losses

Franklin v. Commissioner (T.C. Memo. 2020-127)

On September 3, 2020, the Tax Court issued a Memorandum Opinion in the case of Franklin v. Commissioner (T.C. Memo. 2020-127). The primary issues before the court in Franklin were whether the petitioner was entitled to meal, entertainment, and travel expense deductions and whether the petitioner was entitled to deduct certain business losses.

Read More »
IRC § 162

Brashear v. Commissioner (T.C. Memo. 2020-122)

On August 19, 2020, the Tax Court issued a Memorandum Opinion in the case of Brashear v. Commissioner (T.C. Memo. 2020-122). The primary issue before the court in Brashear was whether the petitioners were entitled to various deductions on Schedule C (Profits and Loss from Business).

Read More »
Books and Records

Sham v. Commissioner (T.C. Memo. 2020-119)

On August 12, 2020, the Tax Court issued a Memorandum Opinion in the case of Sham v. Commissioner (T.C. Memo. 2020-119). The primary issues before the court in Sham were whether the petitioner had (or could) substantiate significant itemized deductions, business deductions, and other “miscellaneous” deductions, and (2) whether the petitioner had failed to report (or maintain records of) her gross receipts.

Read More »
Burden of Proof

Simpson v. Commissioner (T.C. Memo. 2020-100)

On July 7, 2020, the Tax Court issued a Memorandum Opinion in the case of Simpson v. Commissioner (T.C. Memo. 2020-100). The issue before the court in Simpson was whether the petitioners were allowed deductions for unreimbursed partnership expenses (2012-2014) and unreimbursed employee business expenses (2014), which deductions were adjusted in the IRS’s amended answer.

Read More »
Accuracy Related Penalty

McCarthy v. Commissioner (T.C. Memo. 2020-74)

On June 3, 2020, the Tax Court issued a Memorandum Opinion in the case of McCarthy v. Commissioner (T.C. Memo. 2020-74). The issues before the court in McCarthy were (1) whether the petitioner is entitled to deductions for qualified residence indebtedness with respect to real properties in New York and California, and (2) whether petitioner is liable for an accuracy-related penalty under IRC § 6662.

Read More »
Badges of Fraud

Collins v. Commissioner (T.C. Memo. 2020-50)

On April 23, 2020, the Tax Court issued a Memorandum Opinion in the case of Collins v. Commissioner (T.C. Memo. 2020-50). The issues before the court in Collins were (1) whether petitioners were entitled to numerous categories of deductions and whether they provided substantiation to prove entitlement; (2) whether the petitioners are liable for additions to tax for failing to timely file their returns; and whether petitioner-husband is liable for the civil fraud penalty of

Read More »
Books and Records

Williams v. Commissioner (T.C. Memo. 2020-48)

On April 14, 2020, the Tax Court issued a Memorandum Opinion in the case of Williams v. Commissioner (T.C. Memo. 2020-48). The primary issue before the court in Williams was whether the petitioners were entitled to deductions on Schedule C (Profit or Loss from Business) for the expenses of the petitioner-husband’s new business venture as he grew it and prior to the business’ actual operation.

Read More »
Facebook
Twitter
LinkedIn
Pocket
Email
Print

Most popular tagged posts:

Franklin v. Commissioner (T.C. Memo. 2020-127)

On September 3, 2020, the Tax Court issued a Memorandum Opinion in the case of Franklin v. Commissioner (T.C. Memo. 2020-127). The primary issues before the court in Franklin were whether the petitioner was entitled to meal, entertainment, and travel expense deductions and whether the petitioner was entitled to deduct

Read More »

Brashear v. Commissioner (T.C. Memo. 2020-122)

On August 19, 2020, the Tax Court issued a Memorandum Opinion in the case of Brashear v. Commissioner (T.C. Memo. 2020-122). The primary issue before the court in Brashear was whether the petitioners were entitled to various deductions on Schedule C (Profits and Loss from Business).

Read More »

Sham v. Commissioner (T.C. Memo. 2020-119)

On August 12, 2020, the Tax Court issued a Memorandum Opinion in the case of Sham v. Commissioner (T.C. Memo. 2020-119). The primary issues before the court in Sham were whether the petitioner had (or could) substantiate significant itemized deductions, business deductions, and other “miscellaneous” deductions, and (2) whether the

Read More »

Simpson v. Commissioner (T.C. Memo. 2020-100)

On July 7, 2020, the Tax Court issued a Memorandum Opinion in the case of Simpson v. Commissioner (T.C. Memo. 2020-100). The issue before the court in Simpson was whether the petitioners were allowed deductions for unreimbursed partnership expenses (2012-2014) and unreimbursed employee business expenses (2014), which deductions were adjusted

Read More »

McCarthy v. Commissioner (T.C. Memo. 2020-74)

On June 3, 2020, the Tax Court issued a Memorandum Opinion in the case of McCarthy v. Commissioner (T.C. Memo. 2020-74). The issues before the court in McCarthy were (1) whether the petitioner is entitled to deductions for qualified residence indebtedness with respect to real properties in New York and

Read More »

Collins v. Commissioner (T.C. Memo. 2020-50)

On April 23, 2020, the Tax Court issued a Memorandum Opinion in the case of Collins v. Commissioner (T.C. Memo. 2020-50). The issues before the court in Collins were (1) whether petitioners were entitled to numerous categories of deductions and whether they provided substantiation to prove entitlement; (2) whether the

Read More »

Williams v. Commissioner (T.C. Memo. 2020-48)

On April 14, 2020, the Tax Court issued a Memorandum Opinion in the case of Williams v. Commissioner (T.C. Memo. 2020-48). The primary issue before the court in Williams was whether the petitioners were entitled to deductions on Schedule C (Profit or Loss from Business) for the expenses of the

Read More »