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Court of Federal Claims

Court of Federal Claims – taxpayers’ “rollover as business startup” account wasn’t valid retirement plan

Court of Federal Claims – taxpayers’ “rollover as business startup” account wasn’t valid retirement plan

Powell v. U.S., (Ct Fed Cl 3/16/2016) 117 AFTR 2d ¶ 2016-515 The Court of Federal Claims has denied taxpayers’ claim for refund, rejecting their argument that their Individual Retirement Account (IRA) withdrawals were nontaxable distributions that were rolled over into a “Business Owners Retirement Savings Account,” or BORSA — essentially, a variation of a […]

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Unresolved questions of fact surrounded purported alimony agreement including choice of law

Unresolved questions of fact surrounded purported alimony agreement including choice of law

Wolens v. U.S. (Ct Fed Cl 3/4/2016) 117 AFTR 2d ¶ 2016-484 The Court of Federal Claims denied both IRS’s motion to dismiss for failure to state a claim for which relief could be granted, and the taxpayer’s motion for summary judgment, in a refund suit. Although the taxpayer showed sufficient facts to plausibly allege […]

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Court of Federal Claims – year fraud perpetrators were indicted wasn’t year theft loss was deductible

Court of Federal Claims – year fraud perpetrators were indicted wasn’t year theft loss was deductible

Adkins, (Ct Fed Cl 2/23/2016) 117 AFTR 2d ¶ 2016-449 The Court of Federal Claims has held that, while it agreed with the taxpayers that they had a theft loss as a result of being the victim of securities fraud, the loss wasn’t deductible in the year the perpetrators were indicted because the taxpayers did […]

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SOL tolling due to disability doesn’t apply to 2008-2009 extended NOL carryback election

SOL tolling due to disability doesn’t apply to 2008-2009 extended NOL carryback election

McAllister, (Ct Fed Cl 2/22/2016) 117 AFTR 2d ¶ 2016-443 The Court of Federal Claims has held that the provision under which the statute of limitations (SOL) for filing a refund claim is tolled during a period of the taxpayer’s disability, doesn’t apply to extend the period for making the election that was available in […]

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Employment-discrimination settlement wasn’t entitled to capital-gain tax rate

Employment-discrimination settlement wasn’t entitled to capital-gain tax rate

Duffy v. U.S., (Fed Cir 1/8/2016) 117 AFTR 2d ¶ 2016-324 The Court of Appeals for the Federal Circuit, affirming the Court of Federal Claims, has concluded that the settlement payments from an employment discrimination suit received by an individual—who had owned a consulting business but then became an employee—weren’t capital gain income. The payments […]

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Assessment on partner void; IRS couldn’t prove it was based on computational adjustment

Assessment on partner void; IRS couldn’t prove it was based on computational adjustment

Mandich, (Ct Fed Cl 11/6/2015) 116 AFTR 2d ¶ 2015-5400 The Court of Federal Claims decided three issues involving a partner in a partnership, including finding that an assessment of taxes on the partner, that was not preceded by the issuance of a notice of deficiency, was improper because the Court was not convinced that […]

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Divided Appellate Court rejects pre-enforcement challenge to nonresident alien reporting regs

Divided Appellate Court rejects pre-enforcement challenge to nonresident alien reporting regs

Florida Bankers Association v. Dept. of Treas., (CA Dist Col 08/14/2015) 116 AFTR 2d ¶2015-5143 The Court of Appeals for the District of Columbia Circuit, vacating the district court, has held that the Anti-Injunction Act (AIA) bars a lawsuit brought by two banking associations challenging regs that require U.S. banks to report to IRS the […]

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Court of Appeals, Federal Circuit holds refund claim for disputed foreign credits time-barred

Court of Appeals, Federal Circuit holds refund claim for disputed foreign credits time-barred

Albemarle Corp. v. U.S., (CA Fed Cir 3/13/2015) 116 AFTR 2d ¶2015-5141 Affirming the Court of Federal Claims, the Court of Appeals for the Federal Circuit has held that when foreign taxes are contested, the 10-year limitations period in Code Sec. 6511(d)(3)(A) for filing claims for foreign tax credits begins with date for filing the […]

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No refund to taxpayers who attempted to unilaterally change accounting method

No refund to taxpayers who attempted to unilaterally change accounting method

Greiner v. U.S., (Ct Fed Cl 07/22/2015) 116 AFTR 2d ¶2015-5075 The Court of Federal Claims has denied a couple’s claim for refund based on their attempt to retroactively recharacterize certain payments as capital gain. The court found that the taxpayers had adopted the open transaction approach with respect to a series of future, contingent […]

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Owner who agreed not to act independently was still a responsible person

Owner who agreed not to act independently was still a responsible person

Waterhouse, (Ct Fed Cl 7/23/2015) 116 AFTR 2d ¶ 2015-5080 The Court of Federal Claims has held that the 40%-owner vice president of a corporation, who had agreed with the 40%-owner president of the corporation not to exercise any independent authority over the corporation’s finances, was nonetheless a responsible person for purposes of Code Sec. […]

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IRS instructs its attorneys on proper venue for appellate review of CDP cases

IRS instructs its attorneys on proper venue for appellate review of CDP cases

In a Chief Counsel Notice, IRS has provided guidance to its attorneys on the effect of the DC Circuit’s Byers decision on venue for appeals from collection due process (CDP) and other non-deficiency decisions of the Tax Court. In Byers, the DC Circuit, contrary to the longstanding practice of taxpayers and IRS, held that under […]

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Court of Federal Claims holds that S corporations are subject to same lower interest rates on tax overpayments as C corporations

Court of Federal Claims holds that S corporations are subject to same lower interest rates on tax overpayments as C corporations

Eaglehawk Carbon, Inc. v. U.S., (Ct Fed Cl 7/16/2015) 116 AFTR 2d ¶2015-5053 The Court of Federal Claims has held that the corporate overpayment interest rates of Code Sec. 6621(a)(1) apply to S corporations, rejecting a taxpayer’s claim that it was owed additional interest on tax overpayments that it made over a 5-year period. The […]

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Court of Appeals – promoter’s fraudulent intent insufficient to keep limitations period open

Court of Appeals – promoter’s fraudulent intent insufficient to keep limitations period open

BASR Partnership v. U.S., (Fed CA 7/290/2015) 116 AFTR 2d ¶2015-5100 The Court of Appeals for the Federal Circuit, affirming the Court of Federal Claims, has determined that there can be a suspension of the three-year limitation period for fraud under Code Sec. 6501(c)(1) only when the taxpayer, and not a third party, acts with […]

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Corporate director was responsible person, but dispute remained as to willfulness

Corporate director was responsible person, but dispute remained as to willfulness

Gann v. U.S., (05/28/2015 Ct Fed Cl) 115 AFTR 2d ¶2015-782 The Court of Federal Claims has determined on summary judgment that the director/majority shareholder of a staffing company was a “responsible person” for purposes of the Code Sec. 6672 penalty, but found that whether he acted willfully in failing to pay the company’s payroll […]

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Federal Court of Appeals, Federal Circuit: Nuclear Decommissioning Liabilities Weren’t Includible In Basis Of Acquired Assets

Federal Court of Appeals, Federal Circuit: Nuclear Decommissioning Liabilities Weren’t Includible In Basis Of Acquired Assets

AmerGen Energy, (CA Fed Cir 3/11/2015) 115 AFTR 2d ¶ 2015-520 The Court of Appeals for the Federal Circuit, affirming the Court of Federal Claims’ decision, has concluded that a company that purchased several nuclear power plants couldn’t include future nuclear decommissioning liabilities assumed at the time of the purchase in its cost basis for […]

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IRS Loses Motion To Dismiss Refund Suit Of Nonresident Alien Who Filed As Resident Alien

IRS Loses Motion To Dismiss Refund Suit Of Nonresident Alien Who Filed As Resident Alien

Montiel, (Ct Fed Cl 8/7/2014) 114 AFTR 2d ¶ 2014-5155 The Court of Federal Claims has denied IRS’s motion to dismiss a refund suit by a nonresident alien who mistakenly filed her original return as a resident alien, then filed her refund claim before the refund claim deadline for a nonresident alien but not before […]

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Merged corporations qualified for interest netting as the “same taxpayer”

Merged corporations qualified for interest netting as the “same taxpayer”

Wells Fargo & Company, (Ct Fed Cl 06/27/2014) 114 AFTR 2d ¶ 2014-5010 In a case of first impression, the Court of Federal Claims has addressed how the interest netting provision applies to corporations that have acquired other corporations or been acquired through a statutory merger. Specifically, it held that the taxpayer, which was involved […]

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Court upholds rule that imposed FICA tax on wages taxpayer will never receive

Court upholds rule that imposed FICA tax on wages taxpayer will never receive

Balestra (Ct Fed Cl 5/31/2014) 113 AFTR 2d ¶ 2014-887.  The Court of Federal Claims has rejected a taxpayer’s interpretation of Code Sec. 3121(v)(2), the Code section that imposes FICA tax on deferred compensation, and upheld the validity of the reg under that Code section, with the result that taxpayer was liable for FICA tax […]

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Estate’s late filing to resolve “ancillary matters” didn’t excuse penalty

Estate’s late filing to resolve “ancillary matters” didn’t excuse penalty

Estate of Morton Liftin v. U.S., (CA FC 06/10/2014) 113 AFTR 2d ¶ 2014-916. The Court of Appeals for the Federal Circuit, affirming the Court of Federal Claims, has upheld IRS’s imposition of a maximum penalty on an estate for its late filing of the estate tax return. The lower court found that a difficult […]

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Overpayment interest denied for period before taxpayer supplied required documents

Overpayment interest denied for period before taxpayer supplied required documents

In Deutsche Bank Ag v. U.S., (CA FC 02/18/2014), 113 AFTR 2d ¶ 2014-509, the Court of Appeals for the Federal Circuit, affirming the Court of Federal Claims, has held that a taxpayer’s failure to attach Form 8805 (Foreign Partner’s Information Statement of Section 1446 Withholding Tax) and Form 1042-S (Foreign Person’s U.S. Source Income […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney