I'm new here, but I know enough not to try to do what everyone else does. I won't try to cover the wider tax picture. I cover United States Tax Court on my blog, so here's a brief round-up on what went on in Tax Court during the last month that I think is of interest to the tax planner and practitioner...
Lessons Learned from the Tax Court: An Olive Branch in Tax Court
Matt Metras, EA
“Everything is deductible until the audit” is an adage frequently repeated in the tax preparation industry. Generally, it’s mentioned tongue-in-cheek, but today’s taxpayer (and her tax pro boyfriend) may have taken it a bit too literally. Additionally, cutting corners may seem like a time-saving strategy in the moment, but the potential to backfire can’t be ignored. In this case, the taxpayer is about to learn things the hard way.
