Read the latest insights and updates on tax news from K. Tyson Law.
What is the Tax Basis of Artwork Transferred by a Museum to an Artist’s Descendants? Before the Civil War, a slave named Dave was a potter…
Buy Low, Donate High Last month, the IRS published its annual Dirty Dozen list of what it refers to as “the worst of the worst tax…
If a taxpayer has a “substantial understatement” of income tax, the Internal Revenue Service (“IRS”) can assert a penalty. In fact, the IRS’s default procedure is…
Kim Tyson was recently quoted in a Bloomberg Law News article “Six Years in: What Lawyers Want From Tax Court’s DAWSON System” by James Matheson. Bloomberg…
Recently, the Tax Court issued a memorandum opinion in Paschall v. Commissioner, T.C. Memo. 2026-46, holding that the cryptocurrency proof-of-stake rewards at issue in that case…
“Blind reliance on AI…may constitute unreasonable reliance” under Circular 230, the standards for tax practice before the Internal Revenue Service. Recently, the IRS Office of Professional…
July 1, 2026 – The distinction between a deductible ordinary and necessary business expense under IRC § 162 and a deductible charitable contribution under IRC §…
On June 10, the Tax Court issued a memorandum opinion in Wells v. Commissioner, T.C. Memo. 2026-49. In 2016, Mr. Wells was a partner of Chamberlain,…
Open letter to Mr. Taxpayer Mr. Taxpayer, you quit too soon. Perhaps you were worn down by the prison sentence for willful failure to file tax…
What is the July 10, 2026 deadline about and do I need to file a claim with the IRS? In advance of a July 10, 2026…
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