On August 23, 2022, the Regular Division of the Oregon Tax Court issued its opinion in Santa Fe Natural Tobacco Co. v. Department of Revenue, State of Oregon. The court determined that the taxpayer in that case is subject to...more
During the first special session of 2020, the Oregon legislature passed House Bill 4212 (“HB 4212”). Governor Kate Brown (the “Governor”) signed HB 4212 into law on June 30, 2020.
HB 4212 extends the time periods that...more
7/28/2020
/ Coronavirus/COVID-19 ,
Department of Revenue ,
Governor Brown ,
New Legislation ,
OR Supreme Court ,
Relief Measures ,
State of Emergency ,
State Taxes ,
Tax Court ,
Tax Litigation ,
Time Extensions
In Exelon, the Seventh Circuit held that exchanges by Exelon Corporation (“Taxpayer”) of nuclear power plants for long-term leasehold interests in power plants located in other states were not exchanges qualifying for...more
12/7/2018
/ Appraisal ,
Default ,
Deficiency Judgments ,
IRS ,
Leases ,
Power Plants ,
Public Utility ,
Real Estate Transfers ,
Repurchases ,
Section 1031 Exchange ,
Subleases ,
Tax Court ,
Third-Party
As reported on March 8, 2017, the U.S. Tax Court issued a taxpayer-friendly decision in Estate of George H. Bartell, et. al. v. Commissioner, 147 TC 5 (June 10, 2016). The ruling seemed too good to be true. I advised readers...more
In 2015, the U.S. Tax Court issued its ruling in the case of David W. Laudon v. Commissioner, TC Summary Option 2015-54 (2015). The case may not raise or even resolve any novel tax issues, but it reminds us of what is...more
7/27/2017
/ Business Expenses ,
Business Records ,
Deductible Expenses ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Microsoft ,
Nintendo ,
Non-Taxable Income ,
Recordkeeping Requirements ,
Section 6662 ,
Tax Audits ,
Tax Court ,
Tax Penalties ,
Xbox
As reported in my April 7, 2016, October 3, 2016 and October 27, 2016 blog posts, former U.S. Tax Court Judge Diane L. Kroupa and her then husband, Robert E. Fackler, were indicted on charges of tax fraud. Specifically, they...more
6/26/2017
/ Criminal Conspiracy ,
Criminal Prosecution ,
False Reporting ,
Income Taxes ,
Indictments ,
IRS ,
Judges ,
Plea Agreements ,
Tax Audits ,
Tax Court ,
Tax Evasion ,
Tax Fraud
As previously reported, former U.S. Tax Court judge Diane L. Kroupa and her now estranged husband, Robert E. Fackler, were indicted on charges of conspiracy to defraud the United States, tax evasion, making and subscribing a...more
Effective October 1, 2016, the Internal Revenue Service (“IRS”) changed its approach to conducting appeals conferences. The changes were likely adopted by the government under the guise of efficiency and cost savings. With...more
As reported in my April 2016 blog post, former U.S. Tax Court judge Diane Kroupa and her husband, Robert E. Fackler, were indicted on charges of conspiracy to defraud the United States, tax evasion, making and subscribing a...more
In March 2014, I reported on the all-out battle that was ensuing in the U.S. Tax Court between the IRS and the Estate of Michael Jackson over the value of the late pop singer’s estate. It began in 2013, when the estate...more
As a general rule, in accordance with IRC § 162(a), taxpayers are allowed to deduct, for federal income tax purposes, all of the ordinary and necessary expenses they paid or incurred during the taxable year in carrying on a...more
10/26/2015
/ Apportionment ,
Books & Records ,
Controlled Substances ,
Controlled Substances Act ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Tax Court ,
Tax Deductions ,
Tax Liability ,
Tax Returns
Under Code Section 1031(a), the relinquished property must have been held by the taxpayer for productive use in a trade or business, or held for investment. Likewise, the replacement property, at the time of the exchange,...more