The tax code is highly complex. Yet, any number of mistakes and missteps may result in interest and penalties that can outweigh the cost of your initial tax liability. Under some circumstances, you could face criminal charges and jail time.With consequences such as...
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Tax Controversy
Federal Judge Allows Class Action Status in Uber Worker Classification Suit
On September 1, 2015, U.S. District Judge, Edward Chen, authorized the certification of a class action in a lawsuit against Uber Technologies, Inc. for worker misclassification of Uber drivers. The drivers claimed they were misclassified as "independent contractors,"...
Berwick V Uber California labor Commissioner decision
On June 3, 2015, the California Labor Commissioner found an Uber driver to be an employee, and thus eligible for reimbursement for mileage and other expenses while providing rides for the tech company, which claims to be engaged in the business of providing lead...
Ninth Circuit affirms Tax Court judgment that OPIS tax shelter transaction lacked economic substance
On Friday, the Ninth Circuit Court of Appeals affirmed the Tax Court's decision to disallow a capital loss deduction on the ground that the underlying transaction lacked economic substance and was designed to create substantial capital losses. Reddam v. Commissioner,...
Court finds settlement proceeds from mortgage fraud lawsuit were not includible in income
In a Summary Opinion, the Tax Court found that a taxpayer did not have $10,000 in unreported income with regard to settlement proceeds resulting from a mortgage fraud lawsuit. Kadir v. Commissioner, T.C. Summ. Op. 2014-43.In Kadir, the taxpayer had refinanced his...
Taxpayers can waive the attorney-client privilege by raising good faith and state-of-mind defenses during litigation
The Tax Court recently issued an opinion in AD Investment v. Commissioner, 142 T.C. No. 13, in which the Court granted the IRS's motion to compel the production of documents. The controversy arose in the context of two consolidated Tax Court proceedings involving...
Tax Court remands case for IRS to consider an offer in compromise for effective tax administration
Last week, the Tax Court remanded a collection due process case to the IRS Appeals Office for consideration of an offer in compromise (OIC) on the grounds that the IRS had failed to adequately consider whether the OIC promoted effective tax administration. Bogart v....
New Guidance on Federal Bank Secrecy Act Expectations Regarding Marijuana-Related Businesses
Today the Financial Crimes Enforcement Network (FinCEN) issued guidance for financial institutions who seek to provide services to marijuana-related businesses in light of recent state initiatives to legalize certain marijuana-related activities. See FIN-2014-G001. A...
Court of Appeals holds that the IRS does not have the authority to regulate tax return preparers
On Tuesday the U.S. Court of Appeals for the District of Columbia Circuit found that the IRS had exceeded its statutory authority when it attempted to regulate tax return preparers. Loving v. Internal Revenue Service, No. 13-5061 (Feb. 11, 2014).The Secretary of the...
Tax Court disallows $499,000 charitable contribution deduction due to failure to obtain a qualified appraisal
Yesterday, the Tax Court issued a 63 page opinion finding that the taxpayers were not entitled to a $499,000 charitable contribution deduction for the donation of an apartment building to Volunteers for America because the taxpayers failed to obtain a qualified...
