Delinquent Taxes May Mean No Passport

Jana M. Luttenegger Weiler,  of Davis and Brown Law Firm, writes about a largely unnoticed new provision in the Fixing America’s Surface Transportation Act, signed into law by President Obama on December 4th. The provision may prevent individuals with “seriously delinquent” taxes from applying for or renewing their passports. The article
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Zachary A. Cohen: ‘‘All’s Well That Ends Dwell’’ — Tax Planning Strategies to Divest, Diversify or Monetize Investment Real Estate

Zachary A. Cohen, of US Trust, has authored the following article, published in Bloomberg BNA’s Tax Management Memorandum: ‘‘All’s Well That Ends Dwell’’ — Tax Planning Strategies to Divest, Diversify or Monetize Investment Real Estate.  This article describes several strategies that individuals may use to divest, diversify or monetize investment real … Continue reading

Clarence McDonald Leland, Jr. v. Commissioner: Tax Court Holds City Attorney Operating Farm Materially Participated in Farm Activity

In Clarence Mcdonald Leland, Jr. v. Commissioner, T.C. Memo 2015-240, the Tax Court held that an attorney practicing law in Jackson Mississippi who operated a farm in Texas materially participated in the farming activities for Code Sec. 469 passive activity loss purposes.

The court stated the following as part … Continue reading