July 28, 2014

How does the IRS attack tax shelters on IRC Section 183

Some people have significant income from more than one source. And some of these people seek to reduce their taxable income by reporting losses from other […]
July 28, 2014

What is the Economic Substance Doctrine?

The economic substance doctrine or “sham in substance doctrine” arose out of common law, but has recently (as of 2010) been codified in IRC § 7701(o), […]
July 28, 2014

What are the reportable transactions?

A. Reportable Transactions – Generally The reportable transactions rules were drafted in an attempt to identify certain transactions that result in a tax benefit and are […]