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Client with Two Different Years in Tax Court

Case Conclusion Date: 09.21.2011

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.

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