Court Rulings

/Tag:Court Rulings

Social Security Benefits are Taxable

By | March 2nd, 2011|Categories: Potpourri of Tax Topics|Tags: , |

I recently posted about the circumstances under which Social Security benefits are taxable.  A couple from Georgia recently lost a Tax Court case where they tried to argue that their Social Security benefits should not be taxable because the amounts they paid into Social Security had already been taxed.  They made this argument even though their other income [...]

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The IRS Has Ways of Determining Your Income

By | February 28th, 2011|Categories: Potpourri of Tax Topics|Tags: , , , |

If you gamble a lot -- like purchasing several-hundred-thousand dollars of chips during the year, the IRS might get suspicious if you report income that seems unusually low.  Casinos are required to file "currency transaction reports" (CTR) with the IRS whenever someone purchases or redeems more than $10,000 worth of chips during a 24-hour period.  A [...]

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Home Bought from Parents Not Eligible for Homebuyer Credit

By | February 18th, 2011|Categories: Potpourri of Tax Topics|Tags: , , , , |

Taxpayers who bought their first home in part of 2008, 2009 and part of 2010 may have been eligible for the First-Time Homebuyer Credit -- but not if the home was purchased from a relative.  The Tax Court recently ruled that this is true even if the IRS forms and publications may not have included this [...]

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The Importance of Documenting Charitable Contributions

By | December 22nd, 2010|Categories: Potpourri of Tax Topics|Tags: , , , |

The Dinesen Tax Times has been providing a series of articles about charitable contributions this month.  A recent Tax Court case fits in nicely with that series of articles. The Tax Court case involved a couple (a Mr. and Mrs.  Murphy) from California who had more than $27,000 of charitable contributions disallowed by the IRS on [...]

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Nine Side Businesses, No Documentation = Big Tax Bill

By | November 18th, 2010|Categories: Small Businesses Taxes|Tags: |

If you're a regular visitor to The Dinesen Tax Times, you know that I like to chronicle the cases that appear in front of the U.S. Tax Court, and the more bizarre, the better.  I ran across a case Wednesday that I think is certainly strange. The case involved a California woman named Sharon Griffin who lost a [...]

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