If Tax Court Judge Lauber’s June 15, 2020 order is any indication, the Tax Court has grown tired of syndicated conservation easement cases. The case is Coal Property Holdings, LLC v. Commissioner, Tax Court Docket No....
Debt Relief: Breaking Down the Tax Aspects of Covid-19’s Economic Impact – Part III, Defining Indebtedness
June 16, 2020
Indebtedness has been a central focus of Parts I and II of this series, and it will continue to be a key concept in future posts as we explore in further detail the COD Income exceptions and discuss...
A Tough Lesson About Estate Planning-The Estate of Howard V. Moore v. Commissioner
June 16, 2020
By Joel N. Crouch, Blog
Earlier this year, the U.S. Tax Court in The Estate of Howard V. Moore v. Commissioner reminded every taxpayer that while estate planning is important, to achieve the intended estate tax benefits, traps must be...
*UPDATED* IRS HAS NOW ALSO EXTENDED DUE DATE AND PAYMENT DATE FOR GIFT AND GST TAX RETURNS, AS WELL AS ESTATE TAX RETURNS, AND ASSOCIATED TAX DUE, TO JULY 15, 2020.
June 15, 2020
By Jana L. Simons, Blog
[This blog has been updated as of June 1, 2020.] [This Blog Post has been updated to reflect the issuance of IRS Notice 2020-23.] As mentioned in a previous blog post, IRS Notice 2020-18 provides an...
IRS Called Out for Not Pursuing High Income Taxpayers
June 8, 2020
By Joel N. Crouch, Blog
On May 29, 2020, the Treasury Inspector General for Tax Administration (TIGTA) issued a report entitled,“High-Income Nonfilers Owing Billions of Dollars Are Not Being Worked by the Internal Revenue Service”. The report...