Client with Two Different Years in Tax Court

Christopher Michael Larson

Case Conclusion Date:September 21, 2011

Practice Area:Tax

Outcome:2005 Tax Court - $4,000 Refund 2007 Tax Court - No Liabiltiy

Description:Client owed $21,000 for 2003, and received a Notice of Deficiency for 2005 and 2007 which totalled $295,000. Client had engaged in a transaction where his stepfather passed a home to him through an LLC. The client had also made roughly $300,000 in improvements to the home. Got client $4,000 refund for 2005 and 2007 in Tax Court, which was applied to the 2003 liability. Client ended up owing $6,000 in total after penalty abatement.