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Month: March 2018

Marinello v. U.S. The Supreme Court overturns conviction of a Buffalo, N.Y. businessman and raises the bar on I.R.C. § 7212(a) prosecutions for obstructing or impeding administration of the Internal Revenue Code

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Carlo J. Marinello II owned Express Courier Group/Buffalo, Inc., in Buffalo, N.Y. a courier service operated between the U.S. and Canada.  He did not file tax returns, pay federal taxes, and systematically destroyed the company’s business records while unaware he was under investigation by the Internal Revenue Service for a portion of 2005 – 2008. […]

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The IRS Saves, In Part, the Home Equity Interest Deduction

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One of the more troubling aspects of the Tax Cuts and Jobs Act of 2017, enacted December 22, 2017, was the apparent elimination of the deduction for interest paid on home equity loans and lines of credit.  This seeming elimination of an extremely popular tax benefit raised the ire of taxpayers, who along with tax […]

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$29 Billion For Warren Buffet and Berkshire Hathaway – What Is Your Gain From The 2017 Tax Changes?

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Warren Buffet just informed Berkshire Hathaway’s shareholders, no doubt gleeful at the news, that Berkshire realized a tax-windfall of $29 billion in additional income in 2017 from the Tax Cuts and Jobs Act signed into law December 22, 2017. While the amount of additional income realized was stunning, it should not be, given that one […]

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