Category: Taxing Lessons Case Summaries

Decisions — Taxing choices


How many options can you consider before you find yourself longing for simplicity?

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Decisions — Where’s your refund?

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Where’s your refund? Possibly making up the federal budget deficit, if you failed to file a return to get an overpayment back within the applicable time period.

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Case — Fun and games

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THE QUESTION: Does an organization that offers a recreational activity to achieve a charitable purpose qualify as a charitable organization?

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Case — Carry On

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THE QUESTION: Can an IRA deduction that is disallowed due to active participant status in an employer plan be carried forward and deducted in a future year?

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Case — Netting the Gift

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THE QUESTION: Can a taxpayer reduce the value of a gift because the beneficiary agrees to pay the gift and estate tax?

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Case — Showing the Money

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THE QUESTION: Can a taxpayer take a theft loss deduction for his services to a venture later deemed to be a Ponzi scheme?

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Case — Crummey Illusion

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THE QUESTION: Are a trust’s Crummey provisions illusory?

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Case — Temporarily Permanent

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THE QUESTION: When is an amount permanently set aside for a charitable contribution deduction on an estate income tax return?

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Case — The Real Deal

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THE QUESTION: Is the sale of real property acquired by tax deeds capital gain or ordinary income?

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Case — A Facade of Relief

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THE QUESTION: After an exception to a penalty has been eliminated from the tax code, will it apply if the penalty results from carryover deductions from years prior to the elimination?

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