Today's Creative TC Case Theory

This topic contains 4 replies, has 4 voices, and was last updated by DavidWoods DavidWoods 1 week, 5 days ago.

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  • #2591
    DavidWoods
    DavidWoods
    Participant

    We get someone being scammed by a Nigerian general trying to deduct  their loss on Schedule C as a business expense.

    https://www.ustaxcourt.gov/UstcInOp/OpinionViewer.aspx?ID=12013

    #2594
    EricLee
    EricLee
    Participant

    WOW. The phrase “a fool and his money are quickly parted” comes to mind.

    The comedy errors in this case are hard to read about. It’s like watching a car crash….. and then back up and crash again. Come on man!

    #2599
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    SonTran
    Participant

    THANKS David for the case…It reaffirms how the use of Section 162 is scrutinized by Court prism….

    #2601
    CarrieCorcoran
    CarrieCorcoran
    Participant

    The petitioner was well educated at that.  All his years in International Finance and Corporate Finance, you’d have thought he would know better.  No doubt California has been watching this one.

    #2602
    DavidWoods
    DavidWoods
    Participant

    Or you wonder how someone that high up the corporate ladder could have been incredibly and moronically taken by such an obvious scam.

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