Category Archives: Tax Court

The Only Thing Not Thrown at the Petitioner Was the Kitchen Sink

Posted on May 27, 2014 by Russ

There’s a time to be a protester and there’s a time not to be. In Tax Court, it’s imperative you have legitimate arguments; you can pay a very high price for frivolity. Today’s petitioner learned that…perhaps. The petitioner neglected to … Continue reading →

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It’s Probably Not Good for Your Case When the Court Considers Sanctioning Your Attorney

Posted on April 28, 2014 by Russ

The Tax Court had a routine decision today in a collection matter. The case itself (Best v. Commissioner) isn’t particularly interesting; the Court upheld the IRS’s collection efforts. It’s the last page and a half of the decision that caught … Continue reading →

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A Second Bite at the Apple? Yes, When You Don’t Read the Fine Print

Posted on March 13, 2014 by Russ

I previously wrote about betonsports.com, a former Internet sports betting website. One of its executive, David Carruthers, made the mistake of changing planes at DFW. Unbeknownst to him, he had been indicted. His two-hour layover got extended…to 33 months at … Continue reading →

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The Moral Climate may have Changed but the Law Hasn’t

Posted on March 11, 2014 by Russ

Another professional gambler went to Tax Court seeking to stop Section 165(d) of the Tax Code–the section that stops a gambler from deducting losses in excess of wins. This ended up being a full decision of the Tax Court, so … Continue reading →

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He Cracked the Code (but Won’t be Happy with the Result)

Posted on February 27, 2014 by Russ

Back in 2007, Peter Hendrickson wrote a book titled Cracking the Code: The Fascinating Truth About Taxation in America. I haven’t read it, nor would I advise you to. Today, Judge Buch of the Tax Court demolished each and every … Continue reading →

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The Third Time Wasn’t the Charm

Posted on August 27, 2013 by Russ

The cliche goes, if you don’t succeed at first, try, try again. Of course, where you and I would never go, the Bozo side of the tax world loves to venture. The Tax Court today got the chance to look … Continue reading →

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While I Was Out…

Posted on August 8, 2013 by Russ

Ten days off in a row should have been enough…but it wasn’t. In any case, here are some of the posts that the tax blogosphere had that might be of interest: Jason Dinesen asked, “What’s the upside of preparer regulation … Continue reading →

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A Gambler Gambles to Tax Court…and Loses

Posted on July 9, 2013 by Russ

With the World Series of Poker main event in progress here in Las Vegas, the Tax Court coincidentally released a decision of a former “Bracelet” winner. (If you win any event at the WSOP, you not only win cash, but … Continue reading →

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Leisure Suit Larry Goes to Tax Court

Posted on May 13, 2013 by Russ

I vaguely remember a video game with the character Leisure Suit Larry. I’ve never played video games (well, perhaps some online poker) so my knowledge of the games is minimal. From Wikipedia, we find that Larry is, …though still somewhat … Continue reading →

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IRAs and Owning a Business Through an IRA

Posted on May 12, 2013 by Russ

Every so often a client asks me, “Can I fund/purchase/own my business through an IRA.” My general answer is don’t do this! You may be able to do it legally, but there are so many gotchas that it’s rarely worth … Continue reading →

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