Despite the five days off for the two Federal holidays this month, there's plenty from Tax Court, for both specialists and general practitioners. No other Court gets as deep into the "wrinkled skin" of US tax law. As always, there's something for (almost) everyone.
Lessons Learned from the Tax Court: The Root of the Issue
Matt Metras, EA
When is a business really a business? As Supreme Court Justice Potter Stewart said in 1964, “I know it when I see it.” The US Tax Court, however, maintains a slightly less subjective standard. The Roots were pretty sure they were running a bona fide business; the IRS, however, didn’t share the sentiment. And since we’re reading about them in a segment called “Lessons Learned,” one should assume it did not go the way the Roots would have liked.
