Tax Court

News & Analysis as of

Indiana Supreme Court Refuses To Apply A Company’s Foreign Source Dividend Deduction To Its NOL Calculations

On August 25, 2014, the Indiana Supreme Court issued its decision in Indiana Department of State Revenue v. Caterpillar, Inc., holding that the plain meaning of the Indiana tax statutes prohibited the company from increasing...more

Tax Law Blog: Tax Court Ruling on Frequent Flyer Miles as Income

In early 2012, Citibank started issuing Form 1099-MISC to customers who were given "thank you points" in exchange for opening bank accounts. The points could be redeemed for an airline ticket, similar to frequent flyer miles....more

Racquet Club Argues For Lower Land Assessments That “Felt Right,” Loses Indiana Property Tax Appeals In Straight Sets

On August 21, 2014, the Indiana Tax Court in Indianapolis Racquet Club, Inc. v. Marion County Assessor, Cause No. 49T10-1201-TA-1, affirmed the 2002 assessment of a tennis club situated on three contiguous parcels and...more

Tax Court Decisions: Briefing, Opinion, and Decision, Rule 155, and Supplemental Proceedings

- Briefing - Opinion - Post-Trial Motions - Claims For Litigation And Administrative Costs Under Code § 7430 (Other Than Code § 7430(F)(2)) - Decision - Appeals From Tax Court -...more

CRA Required to Reassess in Accordance with Terms of Settlement

The recent decision in Bolton Steel Tube Co. Ltd. v. The Queen, 2014 TCC 94, confirms that the CRA is required to reassess a taxpayer in accordance with terms of settlement. In its decision, the Tax Court provides useful...more

Roitelman: Director Not Liable Where Employee Engages In Deceit

The Tax Court of Canada recently considered whether a director could establish a due diligence defence with respect to unremitted source deductions where the responsibility for remittance lay with an employee in Roitelman v....more

Communications With Experts: Moore v. Getahun and the Advocates’ Society Report

An expert does not draft his/her report in a vacuum. Communication with counsel is required. Ultimately, an expert must provide independent and objective evidence at a hearing. So the question arises as to what amount of...more

Goodwill Owned by a Shareholder Can Provide Tax Planning Opportunities

A recent U.S. Tax Court case reminds us that the personal goodwill owned by the principal shareholder/employee can provide significant tax planning opportunities. Generally, the sale of assets by a "regular" corporation...more

Health Quest: Appeal allowed where Crown failed to properly plead assumptions

What is the result of the Crown’s failure to properly plead its assumptions in the Reply? This issue was considered by the Tax Court in Health Quest Inc. v. The Queen (2014 TCC 211) in which the Crown’s Reply included...more

Tissue Bank Owned By For-Profit And Leased To Related Non-Profit Exempt From Indiana Property Tax

In Hamilton County Assessor v. SPD Realty, LLC, Cause No. 49T10-1104-TA-28 (May 27, 2014) (March 1, 2009 assessment date), the Indiana Tax Court affirmed the grant of a charitable purpose exemption where the office building...more

In Frank Aragona Trust, Tax Court Holds that Trustees’ Activities as Employees Count for Purposes of Material Participation Under...

The issue of whether a trust has passive or non-passive income from its investment in a pass-through entity has taken on increased importance in light of the tax imposed on net investment income under Code Section 1411 of the...more

"The Estate Planner" – July/August 2014

In this issue: - Net Gain For Taxpayers – Tax Court Approves Net Gift Strategy - Estate Planning For The Young And Affluent – How To Hedge Your Bets - Wealth Preserver – Use An ILIT To Shield Life...more

Indiana Tax Court denies budget and tax levy appeals; two local units gave improper notices, one erroneously argued that poor...

The Indiana Tax Court has issued three decisions in the first half of 2014 relating to appeals of final determinations by the Department of Local Government Finance (DLGF) regarding budgets and tax levies for local taxing...more

Income Tax – Transfers of Family Business To Children Tax Free

In Bross Trucking, Inc., TC Memo 2014-10, the United States Tax Court ruled that a taxpayer’s wholly-owned corporation that ceased operations due to its difficulty with regulatory authorities had no goodwill. As a result,...more

Bolton Steel Tube: TCC Orders Crown to Reassessment in Accordance with Settlement

In Bolton Steel Tube Co. Ltd. v. The Queen (2014 TCC 94), the Tax Court of Canada allowed the taxpayer’s motion requesting an Order that would require the CRA to reassess the taxpayer in accordance with the terms of a...more

Reliance on Professional Advice Avoids Valuation Penalty

In Whitehouse Hotel Ltd Partnership v. Commissioner, No. 13-60131 (6/11/2014), the Fifth Circuit Court of Appeals vacated the Tax Court’s enforcement of a gross undervaluation penalty imposed on a taxpayer claiming a...more

Marzen: Tax Court Upholds Transfer Pricing Adjustments

The decision of the Tax Court of Canada in Marzen Artistic Aluminum Ltd. v. The Queen (2014 TCC 194) is the latest addition to a growing body of Canadian judgments on the application of the transfer pricing rules in section...more

FCA Warns Parties on Adjournment Requests

In recent years the Tax Court of Canada has strictly applied the requirements for adjournments and timetable amendments as described in the Court’s Practice Note No. 14. We understand this may have been prompted by a practice...more

Spruce Credit: Avoidance transactions and the Duke of Westminster

In Spruce Credit Union v. The Queen (2014 FCA 143) the Federal Court of Appeal upheld the lower court’s interpretation and application of the inter-corporate dividend deduction under subsection 112(1) of the Income Tax Act...more

Roitelman: Fraud and the Due Diligence Defence

In Roitelman v. The Queen (2014 TCC 139), the Tax Court considered whether a director could establish that he had been duly diligent in his attempts to prevent his company’s failure to remit source deductions where he had...more

Ensuring Timely Filing with Private Delivery Services

Most of us are aware of the timely-mailed-timely-filed “mailbox rule” contained within the Internal Revenue Code. Most of us are probably also aware that a document mailed with a private delivery service may also qualify for...more

Judge Bill Thompson Appointed as First Chief Judge of Alabama Tax Tribunal

On May 19, Governor Robert Bentley officially appointed Chief Administrative Law Judge William L. (Bill) Thompson as the first Chief Judge of the newly established Alabama Tax Tribunal (“ATT”) pursuant to the Alabama Taxpayer...more

Leroux: CRA Owes Duty Of Care To Taxpayer

Can a Canadian taxpayer successfully sue the Canada Revenue Agency? - In recent years, taxpayers have brought a number of civil actions against the Canada Revenue Agency (the “CRA”). The allegations in such cases...more

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

"The Estate Planner" – May/June 2014

In this issue: - Valuing LLC Interests: How To Lose In Tax Court - Should You Keep Your Trust A Secret? - Effort – A “Stretch IRA” Can Maximize Your IRA’s Benefits - Estate Planning Red Flag – You...more

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