A bipartisan group of lawmakers has introduced legislation to provide taxpayers more rights to have their cases heard by the Internal Revenue Service’s Office of Appeals.
The Internal Revenue Service has decided to limit its probe of Coinbase users to those who engaged in transactions of $20,000 or more, according to a court filing.
Just because you have years of experience in an activity and have made an occasional profit at it doesn’t mean you have a profit motive, according to the Tax Court. And without a profit motive, you don’t get to deduct losses from the activity.
The Tax Court has ruled that the owners of the Boston Bruins professional hockey team may deduct the entire cost of away game pregame meals as a de minimis fringe benefit.
