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Full-Text Articles in Law
Sports And Entertainment Figures (And Others) May Be Able To Deduct Legal Expenses For Criminal Prosecutions (And Wrongful Death Suits), John R. Dorocak
Sports And Entertainment Figures (And Others) May Be Able To Deduct Legal Expenses For Criminal Prosecutions (And Wrongful Death Suits), John R. Dorocak
Akron Tax Journal
This article, first, explains the Gilmore origin of claim test. Secondly, the extension of the origin of claim to situations where the legal claim is less clearly connected to the taxpayer's business or income-seeking activities will be discussed. Thirdly, this article will analyze the issue of how a criminal prosecution, particularly for a murder in a situation such as Mr. Simpson's, can be connected to business or income-seeking. Fourthly, the issue of whether any government policy would prevent the deduction, especially for an unsuccessful criminal defendant, will be reviewed Fifthly, prior murder cases in which the defendant was not allowed …
Practitioners - Beware The Trojan Horse: The Government Unsheathes An Old Weapon To Target Practitioners For Criminal Tax Offenses, Dante Marrazzo
Practitioners - Beware The Trojan Horse: The Government Unsheathes An Old Weapon To Target Practitioners For Criminal Tax Offenses, Dante Marrazzo
Akron Tax Journal
Nestled within the many criminal sanctions of the Internal Revenue Code is a little known, less understood, and, until recently, seldom used statute proscribing attempts to interfere with administration of the Internal Revenue laws. This article will discuss the exponential increase in use of that provision, section 7212(a) of the Internal Revenue Code, in the last decade to seek prosecution of tax scofflaws, particularly practitioners, who might have otherwise escaped criminal sanctions. This article will call attention to some perils for the practitioner relating to representing a client on tax matters. Those perils include possible criminal prosecution of an attorney …
The Origin Of The Claim Test: A Search For Objectivity, Edward J. Schnee, Nancy J. Stara
The Origin Of The Claim Test: A Search For Objectivity, Edward J. Schnee, Nancy J. Stara
Akron Tax Journal
Recently, the Ninth Circuit Court of Appeals, in United States v. Kroy (Europe) Ltd., used the origin of the claim test to determine the deductibility of financing expenses. At approximately the same time, the Tax Court, in Fort Howard Corp. v. Commissioner, concluded the use of the origin of the claim test to characterize similar expenditures was inappropriate. Given this conflict and the extensive use of this test to evaluate the deductibility of expenditures, this article reviews the development of this test and provides an analysis of the potential conflicts and uncertainties in its application.
Dispute Resolution With The Irs And Taxpayer Bill Of Rights 2, Lee G. Knight, Ray A. Knight
Dispute Resolution With The Irs And Taxpayer Bill Of Rights 2, Lee G. Knight, Ray A. Knight
Akron Tax Journal
This article expands on the meaning of reasonable time and place and examines numerous other rules governing audit examinations: (1) the significance of the taxpayer's last known address; (2) the rules governing representation before the IRS; (3) established channels for resolving difficult tax problems; (4) guidelines for disputing IRS findings; (5) IRS tools for collecting assessments of additional tax; and (6) the appropriateness of litigation in resolving assessment disputes. In addition, the Taxpayer Bill of Rights and the IRS initiatives to expand taxpayer rights are analyzed and explained. Tax practitioners with a working knowledge of these provisions will be better …
Personal Injury Exclusion: Is The Slashing Of Wrists Necessary?, Donald J. Zahn
Personal Injury Exclusion: Is The Slashing Of Wrists Necessary?, Donald J. Zahn
Akron Tax Journal
This paper will examine the history of damage award taxation beginning with the earliest income tax statute through the present law. Part II traces the 1918 and 1939 income Tax Code provisions and the court cases interpreting those provisions. Part I addresses the 1954 income Tax Code provisions and the case law which further defines tax aspects of damage awards, and Part IV outlines the 1986 tax reform legislation, the 1989 damage award changes, and recent United States Supreme Court rulings on the taxation of damage awards. Finally, Part V suggests that the courts have turned their backs on traditional …