Tags » Tax Court

Tax Court Limits IRS’s Time to Assess Unreported Income from Undisclosed Foreign Accounts by Sandra R. Brown

Generally, when a taxpayer files a tax return, the federal tax laws afford the Internal Revenue Service (“IRS”) with a limit of only three-years within which it must act to examine and assess additional taxes and penalties on any unreported income. 1,161 more words

Tax Court Update: Basis for Cohan Rule by Jonathan Kalinski

As we approach the tax return filing deadline of April 17 this year, taxpayers are scrambling for documents to substantiate their expenses and basis in assets. 502 more words

It's Tax Time: 5 Things That A Tax Lawyer Can Do For You

By: Courtbuddy.com

Every year, millions of people flock to a place like H&R Block with the hope of getting a tax refund. Even worse, millions attempt to prepare and file their taxes themselves. 597 more words

Legal

Court Tightens Noose on Reasonable Cause Exception for the FBAR Penalty By Robert S. Horwitz

A U.S. person with foreign financial accounts worth over $10,000 during the calendar year is required to file a Foreign Bank Account Report (FBAR). Failing to file can result in either a “non-willful” or a “willful” penalty under 31 USC §5321(a)(5).  993 more words

Tax Court Update: What is a Postmark? by JONATHAN KALINSKI

My colleagues and I have spent hours discussing the best way to mail time sensitive documents such as a Tax Court petition, tax return, and refund claim. 949 more words

"When can a taxpayer dismiss a US Tax Court case as moot?"

Source: McDermott Will & Emery via internationallawoffice.com 27 October 2017

US “Taxpayers faced with the prospect of litigation need to carefully consider in which forum they will litigate their case. 27 more words

Topical

Tax Court Ruling on Property Tax Exemption for Disabled Veterans

Last week the New Jersey Tax Court issued a published opinion dealing with the applicability of the disabled veterans’ property tax exemption to certain surviving spouses of qualified disabled veterans.  369 more words