June 11th, 2025
May Federal Tax Update
INDIVIDUALS In Stevens v. Commissioner, TC Memo 2025-45, the Tax Court concluded that a $34.2 million tax deduction for an interest accrual on a “loan” arrangement to offset a business sale for $36.2 million was…
May 8th, 2025
April Federal Tax Update
INDIVIDUALS In Zajac v. Commissioner, TC Memo 2025-33, the Tax Court found that one-half of a $35,001 settlement for the taxpayer’s arrest and incarceration for allegedly beating his wife which charges were dropped when not…
April 8th, 2025
March Federal Tax Update
INDIVIDUALS In Jaha v. Commissioner, TC Memo 2025-26, the Tax Court determined that a husband was domiciled in California rather than Oregon when he earned income from a business such that community property law made…
March 6th, 2025
February Federal Tax Update
INDIVIDUALS In Green Valley Investors LLC v. Commissioner, TC Memo 2025 – 15, IRS reduced a conservation easement deduction from the $90 million that was claimed down to $1.15 million, rejecting arguments intended to avoid…
February 4th, 2025
January Federal Tax Update
INDIVIDUALS In Franklin v. Commissioner, TC Memo 2025-8, the Tax Court determined that a withdrawal of $155,000 by an Alabama county sheriff from an account used to fund meals for jail inmates that was invested…
January 9th, 2025
December Federal Tax Update
INDIVIDUALS In Bruyea v United States, 134AFTR 2d2024-6310, the US Court of Federal Claims became the second court to determine that a treaty-based (in this case Canada) foreign tax credit applies against the Net Investment…
December 19th, 2024
45 Stein Sperling Attorneys Recognized by Super Lawyers Maryland on 2025 List
Stein Sperling is proud to announce 45 of its attorneys have been selected for inclusion on the 2025 Maryland Super Lawyers and Rising Stars lists, including attorneys on the Top 50, and Top 100 lists.…
November 8th, 2024
Stein Sperling Ranked in 2025 Best Law Firms
Stein Sperling has been recognized in the 2025 edition of Best Law Firms®, ranked by Best Lawyers®, nationally in 5 practice areas and regionally in 19 practice areas. For the seventh year in a row,…
November 6th, 2024
New Opportunities for Forms 3520 Penalty Relief
Recently, the IRS revised its penalty approach for late-filed foreign gifts and inheritances reported on Forms 3520. Previously, individuals who filed these forms after the deadline often faced automatic penalties, which could take months, and…
November 1st, 2024
October Federal Tax Updates
INDIVIDUALS In Warren v. Commissioner, TC Summary Opinion 2024-20, the Tax Court declined to classify an engineer as a “real estate professional” as he worked as an employee on a full time basis and claimed…
