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This page contains a single entry by lsaret published on October 21, 2008 4:25 PM.

Tax Court Holds Disputed Funds Represent Estate Tax Payment Considered in Calculating Refund was the previous entry in this blog.

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Tax Court Holds Couple Liable for Additional Penalties for Failure to Consult Tax Expert

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lsaret
on October 21, 2008 TrackBacks (0) Comments (0)

The Tax Court, in Heller v. Commissioner, TC Memo 2008-232 (Oct. 20, 2008), in an opinion that will warm the hearts of tax lawyers and accountants everywhere, held among other things, that taxpayers were liable for penalties for negligence and understatement of income tax because they failed to consult a tax expert before claiming large deductions related to certain investment losses.

Posted by Lewis J. Saret, General Editor, Wealth Strategies Journal.

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