According to Law360, a D.C. Circuit Court said real estate developer Stephen M. Ross and his partners could not deduct $33 million for land donated to the University of Michigan in 2003 and sustained a 40% penalty. In a unanimous decision, the three-judge panel said the U.S. Tax Court was right in finding that Ross' partnership…
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Available IRS Payment Plans – Part II
On May 14, 2019 we posted Available IRS Payment Plans - Part I, where we discussed that for the 2019 filing season, the IRS projects that more taxpayers than ever will file and owe and that many will be able to pay, but a lot of them will need to make other arrangements because they can’t pay…
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Another IRS Summons on Behalf of a Foreign Government
On March 13, 2018 we posted District Court upholds Another IRS Summons Issued Pursuant to a Tax Treaty Request where we discussed that a district court has upheld a summons that IRS issued to an American law firm, pursuant to a request from the French tax authorities, with respect to transfers of funds made by an alleged…
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Florida Landscaper Trims Taxes With Chainsaw & Pleads Guily to Filing False Returns
According to DoJ, a Stuart man pleaded guilty to filing a false tax return with the Internal Revenue Service (IRS). Joseph J. Ferry III, 80, pleaded guilty to one count of willfully filing a false corporate income tax return for his company, Ferry Enterprises Inc., for the tax year 2015. According to court documents, Ferry’s…
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