Firm Insights
While many people seek to be spooked during the month of October leading up to Halloween—homebuyers most certainly do not want to be spooked by their new house. Is a house that is allegedly haunted or was the site of a creepy event considered a material defect that must be disclosed by sellers to prospective…
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This past April, I wrote about a federal indictment returned against Diane L. Kroupa, a former judge on the United States Tax Court, and her husband, Robert E. Fackler. The indictment charged Ms. Kroupa and Mr. Fackler with leaving off income from their tax returns and improperly claiming that certain nondeductible personal expenditures were really deductible…
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Last December, a new law known as the Bipartisan Budget Act of 2015 (the “BBA”) (P.L. 114-74), repealed the existing partnership audit procedures under “TEFRA,” which stands for the 1982 Tax Equity and Fiscal Responsibility Act, effective for tax years beginning in 2018. Thus, for IRS audits of partnerships for tax years in 2018 and…
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