Double Taxation

Week in Review: 5.28 – 6.1.2012

Week in Review: 5.28 – 6.1.2012

Since last Friday was a quasi-holiday, the week in review never got published, so we’ll cover two weeks today.

In the biggest news of the week, a California entrepeneur watches a $19M charitable contribution deduction go up in smoke for failure to follow appraisal/substantiation rules.

The IRS issues proposed regulations under Section 83and guidance on how to account for partnership liabilities in determining a partner’s insolvency.

A dad welcomes his newborn daughter to the world with help from his best friend.

Revenue Rulings 99-5 and 99-6, explained (hopefully).

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