Thursday, March 31, 2011

Tax Management - Real Estate Journal

TAX MANAGEMENT - REAL ESTATE JOURNAL,  Vol. 27, No. 2
Ponzi Scheme Tax Losses by Richard S. Lehman, Esq.

Richard S. Lehman Insights:
  • Tax court holds exclusion for parsonage allowance is not limited to one residence
  • IRS issues final regulations defining omission from gross income
  • IRS Chief Counsel's office advises triangular merger resulted in tax to terminating S corporations on net recognized built-in gain
  • IRS Chief Counsel's office advises house used in adult care business is residential rental property