$173,125 Income Tax Assessment Reversed

United States Tax Court – Taxpayer was audited by the IRS for tax year 2018. The IRS determined that the Taxpayer failed to report taxable income from the sale of his home, resulting in an additional tax assessment of $173,125 (excluding interest). DeWitt Law represented the Taxpayer and challenged the assessment by filing a petition in U.S. Tax Court. The Court entered an order reversing the tax assessment.