2024-11-02
In October 2024, the Tax Court published 21 opinions, which included a total of 302 pages. Below are graphs for the month showing: (i) the top 15 code sections referenced, (ii) cases cited 5 or more times, (iii) the number of opinions by judge, and (iv) the number of pages by judge.
I am always interested in learning well-established tax principles. Often, court cases will explicitly indicate that a tax principle is well established or well settled. Or the court may concisely state the holding of a prior case in a parenthetical. Below are excerpts from the October 2024 Tax Court cases referring to these types of principles or holdings.
Anderson v. Commr., T.C. Memo. 2024-95. (Halpern)
A court may not invoke the Cohan doctrine to estimate the amount of a deductible expense subject to the heightened substantiation requirements in section 274(d). Among the items to which section 274(d) applies are traveling expenses, expenses related to a passenger automobile, and gifts. §§ 274(d)(1), (3), (4), 280F(d)(4)(A).
Anderson v. Commr., T.C. Memo. 2024-95. (Halpern)
Barrios v. Commissioner, T.C. Memo. 2023-32, at *5 (treating profit and loss statements without source documents as argument-not evidence)
Dick v. Commr., T.C. Memo. 2024-101. (Urda)
Dykstra v. Commissioner, T.C. Memo. 2017-156, at *16 ("A taxpayer's underlying tax liability includes penalties and additions to tax that are part of the unpaid tax that the Commissioner seeks to collect.")
J L Minerals, LLC v. Commr., T.C. Memo. 2024-93. (Urda)
Palmer Ranch Holdings Ltd. v. Commissioner, 812 F.3d at 998 n.12 ("Determining the properties' highest and best use necessitated a look at market demand, so the tax court could not be faulted for taking that look.")
J L Minerals, LLC v. Commr., T.C. Memo. 2024-93. (Urda)
TOT Prop. Holdings, LLC v. Commissioner, 1 F.4th at 1368 (finding that the sale price for a 98.99% interest in a partnership, whose only meaningful asset was property on which an easement was granted shortly thereafter, was representative of the "before" value of the property)
Jenner v. Commr., 163 T.C. No. 7 (2024). (Foley)
Williams v. Commissioner, 131 T.C. 54, 59 (2008) (holding that FBAR penalties are not subject to the deficiency procedures because no notice of deficiency is authorized or required prior to assessment pursuant to sections 6212 and 6213)
Moore v. Commr., T.C. Memo. 2024-96. (Urda)
Prater v. Commissioner, T.C. Memo. 2007-241, 2007 WL 2389549, at *1-2 (finding no abuse of discretion where settlement officer rejected installment agreement because taxpayer did not provide requested Form 433-A)
Wright v. Commr., T.C. Memo. 2024-100. (Marvel)
Wilson v. Commissioner, 49 T.C. 406, 414-15 (1968) ("A capital loss deduction is allowed to an individual only if the loss was incurred in a trade or business or in a transaction entered into for profit.")
In October 2024, the IRS published 13 Announcements, Notices, Revenue Procedures, and Revenue Rulings, which included a total of 129 pages.
In October 2024, the IRS published 78 Written Determinations, which included a total of 511 pages.