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Tag Archives: Income tax

Suit challenges federal licensing of tax preparers

After three decades as a part-time tax preparer, 80-year-old Elmer Kilian of Eagle, Wis., is concerned that new IRS regulations may prevent him from hanging out his shingle. Kilian is one of three plaintiffs filing a federal lawsuit this week that challenges new licensure requirements for hundreds of thousands of tax preparers across the nation.

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10-2194 Cole v. CIR

Tax Income tax; fraud Where the taxpayer is an attorney specializing in business planning and tax matters, the Tax Court reasonably found that he committed fraud by funneling income into entities that lacked any business purpose. “The Coles also concealed ...

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09-3741 Beard v. CIR

Tax Income tax; statute of limitations An overstatement of basis can be treated as an omission from gross income, triggering a six-year statute of limitations. “[A] plain reading of Section 6501(e)(1)(A) would include an inflation of basis as an omission ...

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