April featured two court decisions regarding disability payments to employees, one decided in favor of the Government and the other in favor of the taxpayer. The Tax Court determined the non-deductibility of an $875,000 payment dated in year one but not received by the payee until year two. But the Tax Court held that the IRS cannot summarily assess a penalty for failure to file Form 5471, an information return for disclosing interests in a foreign entity.
Learning Objectives:
- List the latest regulations, rulings, and pronouncements from the IRS
- Summarize the most recent decisions out of the Tax Court and federal district courts around the country
David De Jong, CPA
Stein Sperling Bennett De Jong Driscoll PC
Principal
ddejong@steinsperling.com
(301) 340-2020
As chair of the firm’s tax practice group, David helps businesses and individuals with a broad range of tax planning and controversy matters, estate planning, business transactions, and valuations. A CPA with a Master of Laws in Taxation from Georgetown University Law Center, he is accredited in estate planning by the National Association of Estate Planners and Councils and in business valuation by both the American Institute of Certified Public Accountants and the National Association of Certified Valuators and Analysts. With over 35 years of experience, David brings a high level of expertise, sound judgment, and personal attention to help solve his clients’ tax, estate, and business matters.
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