The United States District Court for the District of Idaho has refused to dismiss the government's counterclaim for a civil fraud penalty in connection with a couple's $3 million claimed income tax charitable deduction in connection with a donated conservation...
In this tax-refund dispute involving an alleged tax shelter scheme called the S corporation Charitable Contribution Strategy, a District Court has refused to allow the plaintiffs move to bifurcate the jury trial into a tax phase and a penalty phase.
A U.S. district court has held that an estate is entitled to a estate tax charitable deduction for an amount paid to a charitable trust to correct a scrivener's error in the decedent's will.
A U.S. District Court has denied a married couple's claimed income tax charitable deduction for the donation of a real property structure to a fire department that would by agreement be demolished by the donee in connection with its fire fighting training program....
The D.C. District Court has ruled that a foundation has not satisfied the requirements under section 509(a)(3)(B) or (C) and therefore does not qualify as a supporting organization. Based on this failure, the foundation will be considered a private foundation.
A magistrate judge in the U.S. District Court for Colorado has granted a plaintiff's motion to compel the IRS to produce a "matrix" which is a compilation of valuation data on thirty-five sales of real property subject to conservation easements. Plaintiffs...
The United States District Court for the District of Kansas has denied an estate tax charitable deduction for a testamentary charitable remainder trust based on the fact the trust did not conform to the requirements of section 2055 and a petition to reform the trust...
The U.S. District Court has permanently enjoined several tax return preparers from preparing returns for compensation based on the court's finding the defendants understated the tax due (and overstated the refunds due) on customers' federal income tax returns by...
A federal grand jury has handed down a 37-count indictment against the head of a religious organization and related parties for conspiracy to defraud the United States and agencies thereof. The numerous allegations include a fraudulent charitable contribution and...
A U.S. district court has upheld the appraised value claimed by two businessmen who purchased medical equipment at a low price and then donated it to a hospital.
A U.S. district court has held that a trust's direct, indivisible, and fixed distribution of money to a church renders section 2055(e) inapplicable, especially considering the good faith termination of the trust, thereby entitling an estate to a charitable deduction.
The Justice Department has filed a complaint in U.S. district court against Xelan Inc., in which it alleges that Xelan and others allegedly sold abusive tax shelters to thousands of medical professionals. In one alleged fraudulent scheme, the defendants operate the...
A California District Court has issued a temporary restraining order to freeze more than $500 million in bank and investment accounts of Xelan Inc., a firm allegedly running fraudulent insurance and charity schemes mainly for clients in the medical profession,...
In a Memorandum Opinion, U.S. District Judge William M. Nickerson has concluded the value of a 550-acre parcel donated by Marsh Mountain LLC to Garrett County Maryland Community Action, Inc. in 1998 was overvalued by $1.6 million. Although Marsh Mountain and its...
In a press release from the United States Attorney's Office for the Northern District of California, Tim Mosley of San Rafael, California has been sentenced to five months in prison followed by five months home detention and two years supervised release after...
The United States District Court for the District of Columbia has ruled that it has jurisdiction to rule on the tax-exempt status of the Thomas Kinkade Foundation Charitable Trust, a supporting organization described in IRC ?509(a)(3). In response to the Foundation?s...
Marsh Mountain Limited Liability Co. has petitioned for a readjustment of partnership items included in a Final Partnership Administrative Adjustment issued on March 14, 2002, arguing the IRS erroneously valued a gift of land. The LLC valued the land at $5,000 per acre...
Last month, a U. S. District Court held that a family fund purportedly set up as a social club didn't qualify as a tax-exempt organization. However, the court declined to decide as a matter of law whether the fund was subject to personal holding company taxes. Now, the...
A U.S. district court has held that a family fund that was set up as a social club didn't qualify as a tax-exempt organization. The court declined to decide whether the fund was subject to personal holding company taxes.
Recent activity
Foundation Not Supporting Organization Court Rules
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