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Psychometrician ≠ Tax Expert

Professor Emeritus Lawrence M. Aleamoni is a psychometrician.  I am not exactly sure what that means, but I assure you that it does not mean “tax expert.”  Actually, it seems that one may not have to have taken a single accounting course to be a psychometrician. Professor Aleamoni many years ago established a corporation in […]

Caught Twixt a Rock and a Hard Place: The IRS and Hobby Losses

I’ve blogged about hobby losses a few times.   Section 183 of the Internal Revenue Code generally disallows business tax deductions for activities “not engaged in for profit” – hobbies.  The regulations under Section 183 provide a nonexclusive list of nine factors used to analyze a taxpayer’s profit objective with respect to an activity.  In the […]

Get a Slurpee; Pay Your Taxes – The Conspiracy Theory

Bear with me, please.  I am not usually a conspiracy theorist, but I may be on to something.  There could be a plot afoot in which President Obama pulls a fast one to undermine Ted Cruz and/or Donald Trump and/or whomever and to grease the path to the presidency for Hillary Rodham Clinton. For a […]

Health Care Forms: They are Confusing – For Everyone, It Seems

Some of my confusion may come from the fact that I am following my spring busy season sleepless pattern.  Does the following make any sense to you? At 3:11 p.m. yesterday I received an “IRS Tax Tips” email entitled:  “Corrected:  IRS Health Care Tax Tip 2016-45:  Don’t Confuse Health Care Forms.” At 3:13 p.m. yesterday […]

“It’s déjà vu all over again!” -Yogi Berra

Last week, I was reading headnotes of just-released Tax Court cases and I ran across one that was eerily familiar.  Says I to myself:  “I have already blogged about this case.”  I reviewed my old blogs and found that I had written about a very similar Tax Court case on September 17, 2014.  Do people […]

A Couple of S Corporations, A Couple of Rental Arrangements, A Couple of Taxpayer Losses

Recently, two Circuit Courts shot down the taxpayers in two cases involving rents and S Corporations. In the Estate of Stuller, the Seventh Circuit Court of Appeals addressed a Tennessee Walking Horse breeding operation held in an S Corporation.  Surprise! The IRS, the District Court, and the Seventh Circuit found that the breeding operation was […]

Make Compensation Tax-Free: The IRS Tells You How

Well, my headline may overstate a little bit the subject matter of a new publication by the Internal Revenue Service.  Recently, the IRS issued Publication 15-B, Employer’s Tax Guide to Fringe Benefits. (Click here for full publication) It is a handy summary of fringe benefits, focusing primarily on twenty types of fringe benefits (and variations thereunder) […]

Whoopee! Tax Busy Season is Longer This Year!

By my rough calculation, the 2016 spring tax busy season for 2015 returns is about 5 percent longer than most years. Here’s how I got my number. First, the late, great Bill Morgan used to say that tax season started the day after the Super Bowl.  The “day after” this year was February 8, 2016. […]

IRS Releases its Annual “Dirty Dozen Tax Scams” List

The Internal Revenue Service completed yesterday the release of its annual “Dirty Dozen Tax Scams.”  Some are perennial chart toppers.  I list the Dirty Dozen in order of the IRS ranking. #1– Identity theft.  I agree.  Check out the “ Security. Together.”  on the irs.gov website for tips on protecting  your information. #2– Phone scams. […]

It’s Almost Valentine’s Day – I Have An Excuse!!

The Internal Revenue Code has about 3.7 million words. How many times is “love” mentioned in the Code?  Zero. How often does “romance” appear in the Code?  Not at all. Is “affection” ever used in the Code?  No. Where is the term “sweetheart” found in the Code?  Nowhere. So, the next time Ms. Maultsby questions […]

Mo Vaughn Strikes Out

Remember Mo Vaughn?  Big man and big hitter.  American League MVP in 1995 with the Red Sox.  Mo had his best year in 1996, when he hit for a .326 average, played in 161 games, with 44 home runs and 143 RBIs.  His recent case before the Sixth Circuit Court of Appeals is a cautionary […]

A Spurned Lover and His 1099

Mrs. Maultsby is a well-respected family law attorney.  She has seen a lot of strange cases in which love has gone sour.  I don’t think she has seen one quite like this. Lewis Burns and Diana Blagaich were involved in a romantic relationship from November 2009 until March 2011. When they started the relationship, he […]

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