Income Tax Issues
Tax Articles

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
Tax Articles

Reckless (albeit Tax Conscious) Abandonment under IRC § 165

Uncle Bill is somewhat of a hoarder.  In truth, the only thing that he has ever abandoned was his first wife…in a Waffle House at 2:15 AM on the outskirts of Norman, Oklahoma. In Bill’s defense, she had tried to stab him. In her defense, he probably deserved it. When Bill comes to you to chat about IRC § 165 losses—so-called “abandonment” losses—you know he has some hairbrained scheme in his head to stick it

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Scott St. Amand April 29, 2021
Procedural Issues
Tax Articles

The Record Keeping Requirement of IRC § 6001

Uncle Bill has gotten somewhat of a large bee in his bonnet (a murder hornet of sorts, if you want to know the truth), and he has asked you to teach him everything that you know about civil tax procedure. You note that you are far too busy with your burgeoning practice, but you are intrigued by the Ol’ Codger’s desire to learn the ins and outs of the process through which the IRS collects

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Scott St. Amand April 29, 2021
Procedural Issues
Tax Articles

Abatements, Reconsiderations, and Adjustments

There are three types of administrative remedies that a taxpayer may avail itself of in the event that the taxpayer believes that a tax, penalty, or interest has been improperly assessed.  Reconsiderations deal with original determinations made during an audit/examination, and generally apply when the taxpayer has additional information that was not taken into account during the original examination. Reconsiderations are requests to reevaluate the results of an audit assessment when a taxpayer disagrees with

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Scott St. Amand April 29, 2021
Procedural Issues
Tax Articles

Extinguishment of Liens on Defeasible Property

A part of you couldn’t be happier that Uncle Bill obtained the services of another lawyer for one of his stick-it-to-the-man schemes. In this case, Bill wanted to avoid probate and transfer his home in Dixie County, Florida to his son Jethro. Bill and Ethel, however, still wanted to live in the house and wanted to be able to sell the house if Jethro pissed them off, which, in your experience, was a foregone conclusion.

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Scott St. Amand April 29, 2021
Income Tax Issues
Tax Articles

Successor Liability in a Purchase of Corporate Assets

As a tax controversy lawyer, most of your clients come to you in quite a predicament with the IRS, rather than coming to you to avoid said predicament. Such is the case when Cousin Elmer comes to visit you one dismal winter day. You may remember Elmer from our article on FBARs, but if not, Cousin Elmer has seven and a half fingers from trying, rather unsuccessfully, to eradicate his attic’s squirrel population through the

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Scott St. Amand April 29, 2021
Procedural Issues
Tax Articles

Understanding Parallel Civil and Criminal Investigations

Jedediah was an entrepreneurial soul.  You may remember him from the Deductibility of Criminal Restitution article, but if not, he may or may not have been pinched for embezzling money from Ned’s Tire Rack.  It turns out that he had embezzled the money from Ned, a true southern gentleman, who could sell a whitewall to a Goodyear heir, in order to finance a pyramid scheme involving ethnocentric vitamins and supplements, like his personal hero Joseph

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Scott St. Amand April 29, 2021
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