Tag Archives: tax

Charitable Conservation Easements Found A Friend In The 11th Circuit

Many Tax Court cases have been decided based upon an obscure Treasury Regulation, upholding the IRS’ 100% disallowance of charitable conservation easement deductions.  The 11th Circuit struck down the Regulation, holding that it is “arbitrary and capricious”.  A rare win for taxpayers. The Bloomberg article attached below was written by our own attorney, Nancy O. Kuhn. A Rare Victory For Taxpayers ... Read More

Exempt Organizations: Tax Reform Provisions to Watch

Part II:  Senate and House proposals By Nancy Ortmeyer Kuhn, Chair of Jackson & Campbell's Tax Group The Joint Committee on Taxation released the Senate’s “Description of the Chairman’s Mark of the ‘Tax Cuts and Jobs Act’” on November 9, 2017.  The Ways and Means Committee of the U.S. House of Representatives previously released its long-awaited tax bill on November 2, ... Read More

Exempt Organizations: Tax Reform Provisions to Watch

By Nancy Ortmeyer Kuhn, Chair of Jackson & Campbell's Tax Group The Ways and Means Committee of the U.S. House of Representatives released its long-awaited tax bill on November 2, 2017.  The bill is entitled Tax Cuts and Jobs Act, H.R. 1  (“TCJA”).  Note that there is nothing in the title referencing “tax simplification”.  The full text of the bill ... Read More

Forgiven Debt – Taxable to the Borrower?

Generally, if a borrower is required to pay a sum certain at a specific time, the obligation is considered “debt” under the Internal Revenue Code.  If the lender forgives a portion, it has “cancelled” the debt and the borrower must declare and take into income the dollar amount cancelled.  A lender may unilaterally decide that a debt is not collectable ... Read More