The Tax Court in Brief - April 2021 | Freeman Law
The Week of April 26 – April 30, 2021 - Plentywood Drug, Inc. | April 26, 2021 | Holmes| Dkt. No. 17753-16 - Short Summary: The Tax Court was asked to...
Source: jdsupra.com
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Recent Tax Court Case and Theft-Loss Deductions | Freeman Law
To embed, copy and paste the code into your website or blog: A recent Tax Court case dealt with a familiar topic: Theft losses. I.R.C. section 165 has historically allowed taxpayers to deduct three types of losses: those incurred in a trade or business, those incurred in a transaction entered into for profit, or losses arising from other causes, such as theft. (Note, however, that due to certain changes pursuant to the Tax Cuts & Jobs Act of 2017, individuals may be prevented from taking certain theft losses.) A theft for these purposes is defined broadly, and encompasses various criminal con...
Source: jdsupra.com