Go to Top

Blog Archives

Tag Archives: Duly Noted

Duly Noted

Veteran Chopper Pilot Shoots Down IRS Arguments. After serving two stints over nearly 25 years as a helicopter pilot and flight instructor for the Army, Jesse Linde found himself losing out to younger pilots for stateside jobs. While his wife remained in Alabama, Linde relocated in 2009 to Iraq, where he found steady work flying for a government contractor.
Read More

Duly Noted

Court Says Relief For Wrongfully Incarcerated Prisoners Doesn’t Apply To Relatives. The son and former wife of a man who spent six years in prison for a murder he didn’t commit cannot benefit from tax relief that Congress granted wrongfully incarcerated individuals, a federal court in Ohio ruled.
Read More

Duly Noted

Court Permits Deduction For Executive MBA. Taxpayers can deduct the cost of education that maintains or improves skills required in their current professions, but not those that qualify them for a new trade or business. The Internal Revenue Service disallowed deductions claimed by Alex Kopaigora for the Executive MBA program at Brigham Young University. Kopaigora commuted on weekends to the Provo, Utah, campus from Los Angeles, where he was a hotel accounting manager before losing his job partway through the program. The IRS claimed Kopaigora’s unemployment meant he could not qualify for the deductions, but the Tax Court disagreed.
Read More

Duly Noted

An Earlier Deadline For Information Returns. American businesses have been enlisted in the fight against fraudulent tax filings, and it will require them to be on their toes after the year-end holidays. Businesses now are required to send W-2 forms reporting employee earnings and Forms 1099 showing payments to nonemployee contractors to the Internal Revenue Service by January 31.
Read More

Duly Noted

A Partnership Is In The Eye Of The Beholder. If the beholder happens to be the Canada Revenue Agency (CRA), and the partnership is a limited liability partnership (LLP) or limited liability limited partnership (LLLP) from Delaware or Florida, the partnership is actually a corporation for Canadian tax purposes.
Read More