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The Tax Court has denied charitable deductions for conservation contributions made by a couple and two individuals because donations may be extinguished by mutual consent of the parties and, therefore, fail as a matter of law to comply with the...

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15 Dec 2011 | Judicial | National Publication | News story

A Houston-area tax preparer has plead guilty to three counts of aiding and assisting in the preparation of false tax returns, the Justice Department and Internal Revenue Service (IRS) announced. Of note are false or inflated Schedule A deductions for charitable...

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21 Oct 2011 | Judicial | National Publication | News story

At an October 18 Senate Finance Committee public hearing on Tax Reform Options: Incentives for Charitable Giving, committee member Chuck Grassley, R-Iowa, stated that President Obama's proposed tax increase resulting from limiting itemized deductions,...

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20 Oct 2011 | Judicial | National Publication | News story

Testifying at an October 18 Senate Finance Committee hearing on tax reform and charitable giving incentives, Elder Dallin H. Oaks of the Quorum of the Twelve Apostles of the Church of Jesus Christ of Latter-day Saints, discussed the history and role of private...

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The First Circuit has reversed a district court's acquittal of defendants in a joint criminal prosecution for conspiring to defraud the United States by obstructing the functions of the Internal Revenue Service, for corruptly endeavoring to obstruct the due...

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The Tax Court has ruled that a settlement agreement cannot be used as a contemporaneous written acknowledgment within the meaning of section 170(f)(8)(A) to substantiate an income tax charitable deduction for the donation of a conservation easement.

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The U.S. Court of Appeals for the District of Columbia has held the Tax Court did not err in ruling a donor met the applicable statutory and regulatory requirements in claiming deductions for  the donation of conservation easements on the façades of...

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25 Apr 2011 | U.S. Tax Court | National Publication | News story

The Tax Court has held that a donor is not entitled to an income tax charitable deduction because she failed to establish that she conveyed legal title of donated house to the charitable donee. Consequently the value of the house and costs incurred and related to...

4
The Tax Court has affirmed the IRS's denial of a couple's claimed income tax charitable contribution deduction for a facade easement and some cash, and imposed accuracy-related penalties for the cash donations.
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30 Mar 2011 | U.S. Tax Court | National Publication | News story
The Tax Court has denied an income tax charitable deduction for the contribution of a facade easement based on the donors' failure to file a properly completed Form 8283 and attach to their tax return a qualified written appraisal. In addition, the contemporaneous...
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17 Mar 2011 | U.S. Tax Court | National Publication | News story
The Tax Court has sustained the IRS's deficiency determination and imposed accuracy-related penalties against an individual who failed to substantiate her charitable and other itemized deductions.
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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.

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The Tax Court has reduced the value of a conservation easement granted by a partnership on land it owned and imposed a 30 percentage limitation on the resulting income tax charitable deduction.
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14 Dec 2010 | U.S. Tax Court | National Publication | News story
The Tax Court has disallowed deductions claimed by an attorney who failed to substantiate numerous itemized deductions, including those for charitable contributions, and has imposed accuracy-related penalties.
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The Federal Circuit Court of Appeals has affirmed a Court of Federal Claims opinion and joined with the Second and Third circuits in their holding that securities purchased on margin by an otherwise tax-exempt organization are debt-financed property, the income from...
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10 Sep 2010 | U.S. Tax Court | National Publication | News story
The Tax Court has denied a charitable deduction for the contribution of a conservation easement based on its determination the appraisal obtained by the taxpayer lacked significant information that would make it a qualified appraisal as described in Reg. section 1.170A...
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31 Aug 2010 | U.S. Tax Court | National Publication | News story

The Tax Court has denied an individual's income tax charitable deductions for cash offering plate donations made to a church based on his failure to substantiate his deductions. Other business-related deductions were denied as well.

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31 Aug 2010 | U.S. Tax Court | National Publication | News story

The Tax Court has ruled that a couple is not entitled to an income tax charitable deduction for gifts made to a radio station based on the fact it was not a qualified charitable organization. In order to claim a deduction for a charitable contribution, a taxpayer...

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Writing for Trusts & Estates magazine, attorney David Thayne Leibell reports and discusses the issues associated with a Tennessee Chancery Court's decision to temporarily block the sale by a financially strapped college of a 50 percent interest in an art...

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In a memorandum opinion, the Tax Court has ruled that even though the IRS prevailed in a matter of estate tax deficiency, the estate will not be held liable for accuracy-related penalties because its executor relied in good faith upon an adviser he hired to provide...
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7520 Rates: December 26% November 2.4% October 2.2%

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Recent activity

Dieringer v. Commissioner: Estate Tax Charitable Deduction for Bequest of Stock to Private Foundation Limited to Post-Death Redemption Proceeds - A Flawed Result?

Appraisals Performed by Donor Not Qualified Appraisals: Deduction Denied

Tax Court Denies Deductions and Imposes Penalties

Tax Court Denies Deduction for Facade Easement

Battle of the Appraisers: Taxpayer Prevails in Value of Conservation Easement

Couple Seeks Supreme Court Review in McVeigh Papers Charitable Deduction Ruling

Heard on the Web: Important Legal Ruling Impacts Planned Giving Marketing

Foundation Not Supporting Organization Court Rules