Penalties Under the Code
Memorandum Opinions

Plateau Holdings LLC v. Commissioner
T.C. Memo. 2021-133

On November 30, 2021, the Tax Court issued a Memorandum Opinion in the case of Plateau Holdings LLC v. Commissioner (T.C. Memo. 2021-133). The primary issue presented in Plateau Holdings LLC was whether the 20% accuracy-related penalty applied to the portion of the underpayment not attributable to a valuation misstatement, that is, to the portion of the underpayment resulting from the Tax Court’s conclusion that the petitioner was not entitled to a charitable contribution deduction

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Scott St. Amand April 19, 2022
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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Scott St. Amand April 18, 2022
Procedural Issues
Memorandum Opinions

Roberts v. Commissioner
T.C. Memo. 2021-131

On November 23, 2021, the Tax Court issued a Memorandum Opinion in the case of Roberts v. Commissioner (T.C. Memo. 2021-131). The primary issue presented in Roberts was whether the settlement officer abused his discretion in determining that petitioner was ineligible for a collection alternative. Held: No. Background to Roberts v. Commissioner The petitioner has unpaid tax liabilities for 2004-2007. In an effort to collect these liabilities the IRS filed an NFTL, and in May

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Scott St. Amand April 15, 2022
Procedural Issues
Memorandum Opinions

Marino v. Commissioner
T.C. Memo. 2021-130

On November 22, 2021, the Tax Court issued a Memorandum Opinion in the case of Marino v. Commissioner (T.C. Memo. 2021-130). The primary issue presented in Marino was whether the IRS Whistleblower Office abused its discretion in denying the petitioner an award for information on an alleged ne’er-do-well taxpayer…who, apparently, was dead. Background The petitioner in Marino v. Commissioner filed a Form 211 (Application for Award for Original Information) in 2014, in which he claimed

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Scott St. Amand April 14, 2022
Procedural Issues
Memorandum Opinions

Holland v. Commissioner
T.C. Memo. 2021-129

On November 18, 2021, the Tax Court issued a Memorandum Opinion in the case of Holland v. Commissioner (T.C. Memo. 2021-129). The primary issue presented in Holland was whether petitioner is taxable on retirement income he received during 2017. Held:  #Protester? Yes. #Winning? Not so much. Basics of Argument in Holland v. Commissioner Although the petitioner conceded that he retirement income received payments…he nonetheless asserted that such payments did not constitute “taxable income” because they

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Scott St. Amand April 4, 2022
Procedural Issues
Memorandum Opinions

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
Business Related Issues
Business Related Issues

Smaldino v. Commissioner
T.C. Memo. 2021-127

On November 10, 2021, the Tax Court issued a Memorandum Opinion in the case of Smaldino v. Commissioner (T.C. Memo. 2021-127). The primary issues presented in Smaldino were whether (1) the proper characterization for gift tax purposes of petitioner’s purported transfer of LLC class B member interests to Mrs. Smaldino followed by her purported retransfer of these same interests to the Dynasty Trust and (2) the fair market value of the LLC class B member

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Scott St. Amand March 31, 2022
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