Robert Warwick

Robert Warwick

ThompsonMcMullan PC

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Latest Publications


Sixth Circuit Permits IRS to Force Sale of Residence Held by the Entireties Where Only One Co-owner Owed Tax

In 2002, the Supreme Court, in United States v. Craft, held that a federal tax lien could attach to one spouse’s interest in property held by the entireties even though the co-owning spouse was not liable for the unpaid...more

3/30/2016 - Co-Ownership Employment Tax Fair Market Value IRS Spouses Tax Sale

Tax Court Holds Damages Not Attributable to Physical Injury

Section 104(a)(2) of the Internal Revenue Code provides an exclusion from gross income for damages received for physical personal injury or physical sickness. The statute further provides that emotional distress is not a...more

2/29/2016 - Damages Income Taxes IRS Rehabilitation Act Retaliation Tax Court Title VII USPS

Sister Who Made Brother’s Mortgage Payments Not Allowed Interest Deduction

As a general rule, interest paid by individuals is not tax deductible. A principal exception to the general rule allows a deduction for “qualified residence interest,” i.e., interest with respect to indebtedness incurred in...more

11/13/2014 - Mortgages Popular Property Tax Tax Deductions

Another Tax Trap for the Unwary – Tax Court and the Blank Receipt

As a general rule, the fair market value of property contributed to charity is deductible in determining taxable income. However, deduction is contingent on the donor’s substantiating the fact and value of the property...more

10/24/2014 - Fair Market Value Income Taxes Property Tax Taxable Income

Supreme Court Holds Inherited IRAs Not Exempt from Bankruptcy Estate

The Bankruptcy Code permits an individual in bankruptcy to exempt from the bankrupt estate “retirement funds” in an individual retirement account (“IRA”) or certain other tax-advantaged vehicles. In a recent case, the U.S....more

6/23/2014 - 401k Chapter 7 Consumer Bankruptcy Estate Planning IRA Retirement SCOTUS

FICA Tax Imposed on Compensation That Will Never Be Received

FICA tax is normally collected through withholding at the time the underlying compensation (“wages”) is received. Under a special rule in the Internal Revenue Code, however (the “special timing rule”), FICA with respect to...more

6/6/2014 - Deferred Compensation FICA Taxes Income Taxes IRS U.S. Treasury

Why You Should Keep Stockbroker Receipts

Gains from the sale of property are generally subject to federal (and, usually, state) income tax (sometimes referred to as “capital gains tax”). The amount of gain subject to tax is equal to the sale proceeds less the...more

5/13/2014 - 1099s Capital Gains Income Taxes IRS Securities Tax Appeals Tax Basis Tax Court

Supreme Court Holds Severance Payments Subject to FICA Tax

Compensation for services as an employee (called “wages” in the federal tax code) are subject to FICA (social security and medicare) tax as well as income taxes. Over the past 70 years, the courts, including the U.S. Supreme...more

4/3/2014 - FICA Taxes Quality Stores SCOTUS Severance Pay

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