Monthly Archives: January 2018

Smith v. Comm’r: Before You Take that Business-Related Tax Loss, Ask “Does My Business Have a Bona Fide Purpose?”

By Patricia Weisgerber, Esq., LL.M. Last fall, the U.S. Tax Court decided the case of Smith v. Comm’r.[1] It’s not a pivotal case, but it stands as a good reminder of the adage “you don’t get something for nothing.” At the heart of the case was a complicated tax ...

IRS Notice 2018-01: Passport Denial/Revocation for “Seriously Delinquent Tax Debts” to Begin

by Patricia Weisgerber, Esq., LL.M. In 2015, the Fixing America's Surface Transportation (FAST) Act contained a provision in which the IRS would interact with the State Department to deny or revoke the passports of taxpayers with "seriously delinquent tax debts." However, details needed to be worked out between the two agencies before the ...

Donor-Advised Funds: IRS Proposes Rule Changes

Donor-Advised Funds: IRS Proposes Rule Changes

A Review of IRS Notice 2017-73[1]

By Attorney Morris N. Robinson, CPA, LLM

January 5, 2018

Background IRS Notice 2017-73 (the “Notice”) provides advance notice of U.S. Treasury and IRS’ proposed rule changes for Donor-Advised Funds (“DAF’s”).[2] ...