by Dan Smith | May 20, 2011 | Entrepreneurs' Business Blog
We have all heard that old expression, “I’ve got some good news and some bad news. Which do you want to hear first?” The taxpayer in the case of Martin v. Commissioner, which was decided by the U.S. Tax Court and filed yesterday, was on the receiving...
by Dan Smith | May 19, 2011 | Entrepreneurs' Business Blog
There were a lot of important lessons to be gleaned from the U.S. Tax Court’s decision in Scroggins v. Commissioner of Internal Revenue, which was filed yesterday. Two of the most helpful are these: (1) Just because a married couple files a joint tax return, it...
by Dan Smith | May 17, 2011 | Entrepreneurs' Business Blog
If your tax-exempt organization has a calendar-year taxable year (i.e., its tax year ends on December 31 of each year), then yesterday was the deadline to file your yearly tax return (assuming you did not apply for a filing extension). The due date for tax-exempt...
by Dan Smith | May 16, 2011 | Entrepreneurs' Business Blog
In a recent posting, the Tax Court’s decision in Pullins v. Commissioner of Internal Revenue was discussed. Last week, the Tax Court again ruled in favor of the taxpayer and held that Treasury Regulation 1.6015-5(b)(1) is invalid. The case in point on this...
by Dan Smith | May 16, 2011 | Entrepreneurs' Business Blog
There was quite a stir in the media this past week surrounding so-called “social welfare” organizations that are exempt from federal income tax under Section 501(c)(4) of the Internal Revenue Code. Unlike the better-known 501(c)(3) organizations, which are...
