News - John R. Dundon II, Enrolled Agent
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I've been getting asked this question quite a bit so I put it directly to the IRS.  My guess is that I wasn't the only one who asked because today the Internal Revenue Service issued guidance designed to clarify the tax treatment of cell phones. The...

Under IRC §170(c)(2)(A) generally speaking when a trust uses its income to buy an asset and in a later year gives that asset to a charity it is allowed a charitable deduction. Chief Counsel Advice 20104202 stipulates however that if the deduction was not limited to the trust’s...

According to Tax Court Memo 2010-261, a husband and wife purchased real estate, refurbished it and reported the sale on Form 4797. They contended the homes were purchased for use as rentals; however, over the three-year period at issue, none of the homes were rented. The IRS determined that...

In the Tax Court case of Trieu M. Le, et ux. v. Commissioner TC Summary Opinion 2010-94 the IRS took the position that the taxpayer was a casual gambler and should have deducted his losses up to his winnings on Schedule A.  The taxpayer took the...

Section 152(e) of the tax code specifies how to determine the dependent status of children of divorced parents. This code section states that the noncustodial parent can claim the dependency exemption for a child when the custodial parent signs a written declaration that the custodial parent will not claim such child...

Abusive tax shelters of every nature are what I call scum bag lawyer schemes.  It is difficult to specifically define abusive tax shelters because new ones are constantly emerging.  Essentially they are arrangements usually designed by 'promoters' to circumvent tax laws or evade taxes.  They...

Okay I got a new case for appeal consideration and am blasting out my thoughts as to why this one is not receiving further consideration.  In short it is not winnable. You need to be very diligent in your research and documentation to successfully deduct...

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