Kevan P Mclaughlin's Legal Cases (3)

Tax

Perez v. Commissioner, 144 T.C. 4 (2015)

Jan 22, 2015

OUTCOME: Compensation for pain and suffering resulting from the consensual performance of a service contract is not “damages” under I.R.C. section 104(a)(2) and must be included in gross income.

Taxpayer received payment in exchange for undergoing procedures to donate her eggs to infertile couples. Under the taxpayer’s contracts, the sums she received were designated compensation for pain and ... suffering. The issue was related to taxation under IRC § 104(a)(2).

Tax fraud and tax evasion

Carreon, et al. v. Commissioner of Internal Revenue, T.C. Memo. 2014-6

Jan 09, 2014

OUTCOME: Taxpayers were not liable for the IRC section 6663 civil fraud penalty

IRS determined that an individual and 2 businesses were engaged in a civil fraud scheme and liable for the 75% civil fraud penalty under IRC section 6663, totaling $226,554.00..

Tax

Fitch v. Commissioner, T.C. Memo. 2012-358

Dec 26, 2012

OUTCOME:

Co-Counsel on case involving (1) whether petitioners were entitled to amortize the purchase price of an accounting practice; (2) whether petitioners were entitled to deduct rental real estate losses, a ... nd whether rental real estate losses are limited by the passive activity loss rules of section 469 (3) whether petitioners were entitled to deduct meal and entertainment expenses beyond the amounts allowed by the IRS; (4) whether petitioners were entitled to deduct net operating loss carryovers from 2003 and 2004; and (5) whether petitioners are liable for accuracy-related penalties under section 6662(a).

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