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…
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…
“Blind reliance on AI…may constitute unreasonable reliance” under Circular 230, the standards for tax practice before the Internal Revenue Service. June 30, 2026. Recently, the IRS…
July 1, 2026 – The distinction between a deductible ordinary and necessary business expense under IRC § 162 and a deductible charitable contribution under IRC §…
How a “Gift Letter” (Contemporaneous Written Acknowledgment or CWA) Failed the Strict Substantiation Requirements in the Tax Code May 15, 2026 – This week, the Tax…
K. Tyson Law is excited to announce that Karin Gross was elected as a Fellow of the American College of Tax Counsel (ACTC) at the meeting…
May 11, 2026 – The IRS can reduce taxes, interest, and penalties (civil or criminal) through an offer-in-compromise (i.e., an “OIC”). An OIC is an offer…
Olive Picking is a painting by Vincent van Gogh. In it, he used his signature brush lines to capture women picking olives in an olive grove….
Olive Picking is a painting by Vincent van Gogh. In it, he used his signature brush lines to capture women picking olives in an olive grove….
Feb. 18, 2026 – This month, the U.S. Tax Court issued a memorandum opinion in El v. Commissioner, T.C. Memo. 2026-17, a case where the IRS…