This PodCast concerns a case dealing with the trust fund recovery penalty under "6672. In the case of Richard A. Smith v. United States, 2009 TNT 30-6, CA10, (http://ca10.washburnlaw.edu/cases/2009/02/07-4210.pdf) the Tenth Circuit refused to overturn the holding in the US District Court of Utah that Mr. Smith was a responsible person, even though he had no ownership interest in the entity in question.

Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This PodCast is about the timing of income you report and deductions you take. What if a customer tells you they are going to reduce what they pay you for the work you just delivered to them because you owe them to fix the "bad job" you did on an earlier contract? If you are on the accrual basis, can you reduce your accrued receivable or record an expense if you are disputing that claim? That is the issue being dealt with in the case of Trinity Industries v. Commissioner, 132 TC No. 2.

The written materials can be downloaded at http://www.edzollars.com/2009-02-02_Timing.pdf .

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This PodCast involves a Northwest Airlines mechanic who was laid off and ended up using his "bumping" rights in other cities while hoping to return to his original home base. The question of whether the taxpayer could deduct the expenses of working in the various locations is considered by the Seventh Circuit Court of Appeals after the Tax Court decided no deduction was allowed in the case of Wilbert v. Commissioner, 2009 TNT 12-12, CA7, affirming TC Memo 2007-152.

The materials can be downloaded at http://www.edzollars.com/2009-01-25_TaxHome.pdf .

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This PodCast is about the first-time homebuyer credit - and unmarried individuals. Last year when Congress added the first-time homebuyer credit found in Section 36, they included the ability for unmarried individuals who jointly acquire a residence to allocate the credit among themselves, and gave the IRS the ability to write the rules to allow this to happen. In Notice 2009-12 the IRS has outlined those rules, and they proved to be very taxpayer friendly.

The materials for the podcast can be downloaded at http://www.edzollars.com/2009-01-20_UnmarriedCredit.pdf .

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This Podcast is about the deduction of Medical expenses and the case of Magdalin v. Commissioner, TC Memo 2008-293. In this case the taxpayer had paid expenses for obtaining eggs and the services of a surrogate mother, and argued that these expenses should be treated as deductible medical expenses, pointing to the IRS's 2003 private letter ruling (PLR 200318017) that allowed a woman the expenses related to in vitro fertilizaiton, including expenses paid for an egg donor. The IRS (and the Tax Court) didn't find the situations to be comparable and denied the deduction.

The materials are at http://www.edzollars.com/2008-12-28_Medical.pdf .

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This PodCast deals with self-employment taxes and employee status and focuses on the Tax Court's ruling in McWhorter v. Commissioner, TC Memo 2008-263 where a taxpayer argued he was not subject to self-employment tax because he should have been treated as an employee.

The materials can be downloaded at http://www.edzollars.com/2008-11-27_Self_Employed.pdf .

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This Podcast continues with issues related to S Corporation debt and the many ways to end up not being able to use debts to deduct losses flowing through. This Podcast focuses on Tax Court's opinion in the case of Russell v. Commissioner, TC Memo 2008-246.

The materials for the podcast can be downloaded from http://www.edzollars.com/2008-11-03_SDebt.pdf .

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This Podcast concerns the final regulations on S Corporation open account debt that will change the way that many clients have to deal with their loans to the corporation.

The materials are available at http://www.edzollars.com/2008-10-31_S_OpenAccount.pdf .

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