In tax, as in medicine, diagnosis can be tricky without all the facts.
Category: Taxing Lessons Case Summaries
Decisions — Where’s your refund?
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.
Case — Fun and games
THE QUESTION: Does an organization that offers a recreational activity to achieve a charitable purpose qualify as a charitable organization?
Case — Carry On
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?
Case — Netting the Gift
THE QUESTION: Can a taxpayer reduce the value of a gift because the beneficiary agrees to pay the gift and estate tax?
Case — Showing the Money
THE QUESTION: Can a taxpayer take a theft loss deduction for his services to a venture later deemed to be a Ponzi scheme?
Case — Temporarily Permanent
THE QUESTION: When is an amount permanently set aside for a charitable contribution deduction on an estate income tax return?
Case — The Real Deal
THE QUESTION: Is the sale of real property acquired by tax deeds capital gain or ordinary income?
