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Indirect purchasers can’t get homebuyer tax credit 

Published: May 24, 2012

Tags: S corporation, taxation

Taxpayers who purchased their home through their subchapter S corporation could not claim a first-time homebuyer credit when they filed their federal income taxes, the U.S. Tax Court has ruled in upholding a deficiency determination.

Ex-spouse’s disability pay counts for income tax purposes 

Published: May 16, 2012

Tags: disability pay, divorce, taxation

A divorced taxpayer was required to report as income her share of her former husband’s disability pay, the U.S. Tax Court has ruled in upholding a $3,587 deficiency assessment.

Gift tax payments must be included in decedent’s estate 

Published: May 9, 2012

Tags: gift tax, QTIP trust, Qualifying Terminable Interest in Property trust, taxation

Gift taxes paid by the donee trustees of a Qualifying Terminable Interest in Property (QTIP) trust should have been included in the transferor’s gross estate for purposes of calculating federal estate tax, the 9th Circuit has ruled in affirming judgment.

Divorced father entitled to dependency tax exemption 

Published: May 4, 2012

Tags: child support, taxation

A divorced father could claim a dependency exemption on his federal income taxes – even though his child’s mother refused to sign the form ordinarily required by the IRS for such exemptions, the U.S. Tax Court has ruled.

Is differing treatment of taxpayer debt constitutional? 

By: Kimberly Atkins
Published: February 29, 2012

Tags: equal protection, Supreme Court, taxation

WASHINGTON – Fair is fair. But when one group of homeowners is relieved of tax liability that other similarly-situated homeowners already have paid, is that an Equal Protection violation?

That was the question before the justices of the U.S. Supreme Court Wednesday as they heard oral arguments in Armour v. City of Indianapolis.

Immigrants can be deported for filing false tax return 

Published: February 22, 2012

Tags: aggravated felony, deportation, immigration, taxation

Resident aliens committed a deportable offense by filing a false tax return that resulted in the federal government sustaining a loss in revenue in excess of $10,000, the U.S Supreme Court has ruled in a 6-3 decision.

IMMIGRATION 

Published: February 22, 2012

Tags: aggravated felony, deportation, immigration, taxation

Resident aliens committed a deportable offense by filing false tax returns that resulted in the federal government sustaining a loss in revenue in excess of $10,000.

See “Immigrants can be deported for filing false tax returns”

U.S. Supreme Court. » Continue Reading.

IRS eases rule making injury awards non-taxable 

Published: February 7, 2012

Tags: gross income, Internal Revenue Code, Internal Revenue Service, IRS, Small Business Job Protection Act, tax on damages, taxation

Awards for physical injuries are no longer required to be derived from a vindication of “tort” rights in order to qualify for exclusion from a taxpayer’s gross income, according to a recent rule amendment issued by the Internal Revenue Service.

Non-compliant plan may be exempt in bankruptcy 

Published: December 28, 2011

Tags: Chapter 7, Internal Revenue Code, Keough retirement plan, retirement plan, taxation

A retirement plan that was not technically “tax qualified” under federal law may still be exempt from the taxpayer’s bankruptcy estate, the Utah Supreme Court has ruled in answering a certified question from a U.S. District Court.

Malpractice suit against law firm settled 

Published: December 20, 2011

Tags: Indiana, IRS, legal malpractice, taxation, taxes

A Noblesville, Ind. farm couple settled their legal malpractice lawsuit against the Indianapolis law firm of Krieg DeVault while the jury was deliberating in the case.