Tax Assessment Reversed in U.S. Tax Court
Taxpayer received a Notice of Deficiency from the IRS for alleged cancellation of debt income. DeWitt Law represented the Taxpayer and filed suit in U.S. Tax Court to challenge the Notice of Deficiency. DeWitt Law argued that the Taxpayer was not subject to the cancellation of debt income because the Taxpayer had no legal right in the property whose mortgage was forgiven. After completing discovery, counsel for the IRS agreed…
$268,699 CP2000 Assessment Reduced to $0
Nashville, Tennessee – Taxpayer received IRS Notice CP2000 proposing additional tax of $268,699, based on income reported to the IRS on Form 1099-S from the sale of two residential properties owned by Taxpayer. Taxpayer failed to timely respond to the CP2000 notice, resulting in the issuance of a Statutory Notice of Deficiency. DeWitt Law represented Taxpayer and challenged the assessment in U.S. Tax Court, resulting in the assessment being reversed…
$460,313 CP2000 Assessment Reduced to $9,527
Nashville, Tennessee – Taxpayer received IRS Notice CP2000 proposing additional tax of $460,313, based on income reported to the IRS on Form 1099-S from the sale of several residential properties owned by Taxpayer. DeWitt Law represented Taxpayer and challenged the proposed assessment with the IRS. The IRS never responded and issued a Statutory Notice of Deficiency. After litigation in U.S. Tax Court, the assessment was reduced to $9,527.
Equitable Spouse Claim Granted in U.S. Tax Court
United States Tax Court – The Taxpayer’s former spouse was self-employed and did not make estimated payments, resulting in a significant tax liability. The Taxpayer had no involvement with the former spouse’s business. DeWitt Law represented the Taxpayer before the IRS and filed a claim for equitable spouse relief. The IRS denied the claim and DeWitt Law filed a Petition in U.S. Tax Court. The court granted the Taxpayer’s claim…