Charitable Issues

Corning Place Ohio LLC v. Commissioner
T.C. Memo. 2022-12

On February 28, 2022, the Tax Court issued a Memorandum Opinion in the case of Corning Place Ohio LLC v. Commissioner (T.C. Memo. 2022-12). The primary issue presented in Corning Place Ohio LLC v. Commissioner was whether the taxpayer and the tax matters partner substantially complied with the reporting requirements necessary to substantiate a conservation easement deduction for the façade of a historic building. Background to Corning Place Ohio LLC v. Commissioner This case involves

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Charitable Issues

901 South Broadway Limited Partnership v. Commissioner
T.C. Memo. 2021-132

 On November 23, 2021, the Tax Court issued a Memorandum Opinion in the case of 901 South Broadway Limited Partnership v. Commissioner (T.C. Memo. 2021-132). The primary issue presented in 901 South Broadway Limited Partnership was whether a partnership’s gift to a qualified organization satisfied the requirement of IRC § 170(h)(5)(A) that the gift’s conservation purposes must be protected in perpetuity. Held: DO NOT GET CREATIVE WITH CONSERVATION EASEMENTS!!! Background to 901 South Broadway Limited

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Charitable Issues

Ononuju v. Commissioner
T.C. Memo. 2021-94

On July 26, 2021, the Tax Court issued a Memorandum Opinion in the case of Ononuju v. Commissioner (T.C. Memo. 2021-94). The primary issue presented in Ononuju v. Commissioner was whether the petitioner was liable for excise tax pursuant to IRC § 4958 as a “disqualified person” who engages in an “excess benefit transaction” with a tax-exempt charity. Background to Assessment in Ononuju v. Commissioner The IRS determined that the petitioner was a disqualified person

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Charitable Issues

New World Infrastructure Organization v. Commissioner
T.C. Memo. 2021-91

On July 20, 2021, the Tax Court issued a Memorandum Opinion in the case of New World Infrastructure Organization v. Commissioner (T.C. Memo. 2021-91). The primary issue presented in New World Infrastructure was whether the petitioner qualified for tax exempt status for purposes of IRC § 501(c)(3). Background to New World Infrastructure Organization v. Commissioner The petitioner is “a successor to a for-profit business that never made any profit.”  This, according to the petitioner, made

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Charitable Issues

Montgomery-Alabama River LLC v. Commissioner
T.C. Memo. 2021-62

On May 17, 2021, the Tax Court issued a Memorandum Opinion in the case of Montgomery-Alabama River LLC v. Commissioner (T.C. Memo. 2021-62). The primary issue presented in Montgomery-Alabama River LLC v. Commissioner was whether the Tax Court should certify (to the Alabama Supreme Court) the question of whether, under Alabama law, the petitioner would be entitled to the full proceeds of any sale if the easement were extinguished. Basic Legal Framework in Montgomery-Alabama River LLC v.

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Charitable Issues

Fumo v. Commissioner
T.C. Memo. 2021-61

On May 17, 2021, the Tax Court issued a Memorandum Opinion in the case of Fumo v. Commissioner (T.C. Memo. 2021-61). The primary issue presented in Fumo v. Commissioner was whether the petitioner, who was a very bad man who defrauded community charities, was liable for excise taxes under IRC § 4958(a)(1) as a “disqualified person.” Background to Fumo v. Commissioner The petitioner, as noted above, was (and likely still is) a real jerk.  He was

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Charitable Issues

Tikar Inc. v. Commissioner
T.C. Memo. 2021-53

On May 6, 2021, the Tax Court issued a Memorandum Opinion in the case of Tikar Inc. v. Commissioner (T.C. Memo. 2021-53). The primary issue presented in Tikar Inc. v. Commissioner was whether Tikar (organized to present exposition of African art owned by a corporation and to promote African art, generally) was operated exclusively for one or more exempt purposes pursuant to IRC § 501(c)(3). The Blessed Rains Down in Africa in Tikar Inc. v. Commissioner

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Hamilton v. Commissioner
T.C. Memo. 2022-21

On March 15, 2022, the Tax Court issued a Memorandum Opinion in the case of Hamilton v. Commissioner (T.C. Memo. 2022-21). The primary issues presented in Hamilton v. Commissioner were (1) whether the Tax Court would consider taxpayers’ testimony and documentary evidence; (2) whether the notices of determination contained plain

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Bunton v. Commissioner
T.C. Memo. 2022-20

On March 10, 2022, the Tax Court issued a Memorandum Opinion in the case of Bunton v. Commissioner (T.C. Memo. 2022-20). The primary issues presented in Bunton v. Commissioner were (1) whether Brian and Karen were entitled to challenge the existence and amounts of their underlying tax liabilities for the

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DelPonte v. Commissioner
158 T.C. No. 7

On May 5, 2022, the Tax Court issued the full opinion in DelPonte v. Commissioner (158 T.C. No. 7). The primary issue presented in DelPonte v. Commissioner was whether the IRS’s Cincinnati Centralized Innocent Spouse Operation (CCISO) or the IRS’s Office of Chief Counsel has the final authority to determine

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Treece Financial Services Group v. Commissioner
158 T.C. No. 6

On April 19, 2022, the Tax Court issued the full opinion in Treece Financial Services Group v. Commissioner (158 T.C. No. 6). The primary issue presented in Treece Financial Services Group v. Commissioner was whether the Tax Court had jurisdiction to determine whether Voluntary Classification Settlement Program (VCSP) entered into

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BATS Global Markets Holdings Inc. v. Commissioner
158 T.C. No. 5

On March 31, 2022, the Tax Court issued the full opinion in BATS Global Markets Holdings Inc. v. Commissioner (158 T.C. No. 5). The primary issue presented in BATS Global Markets Holdings Inc. v. Commissioner was whether the petitioner’s transaction fees, routing fees, and logical port fees qualify as domestic

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Aptargroup Inc. v. Commissioner
158 T.C. No. 4

On March 16, 2022, the Tax Court issued the full opinion in Aptargroup Inc. v. Commissioner (158 T.C. No. 4). The primary issue presented in Aptargroup Inc. v. Commissioner was whether the taxpayer was required to characterize stock in controlled foreign corporation using gross income method. Held: Yes, indeed it

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