by Dan Smith | May 26, 2011 | Entrepreneurs' Business Blog
Earlier this week, the United States Tax Court filed a short memorandum opinion in the case of Espinoza v. Commissioner of Internal Revenue that illustrates the importance of tax issues in divorce cases. The taxpayer in this case were divorced the year after the birth...
by Dan Smith | May 24, 2011 | Entrepreneurs' Business Blog
Today’s Wall Street Journal had an article entitled “Swaps at Center of a Debt Standoff,” which discussed a dispute that has arisen between a school district in Pennsylvania and the Royal Bank of Canada (RBC). The dispute revolves around an interest...
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...
