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A brief review of the judicial system includes a discussion of which court a taxpayer should use when an administrative remedy could not be reached in an IRS audit.

A review of salient court cases includes the following topics:  

  • Reasonable compensation
  • Constructive Dividends
  • Determining what is an allowable charitable contribution deduction
  • Recognizing gain/loss from the disposition of corporate assets
  • Tax Administration issues relating to:
    • Misclassification of workers, Sec. 530 relief
    • Federal Tax Liens 
    • Imposition of various penalties, including the accuracy-related penalty, the gross valuation misstatement penalty, and the failure to file/pay penalty
    • Claims for refund

This course also discusses how to avoid/minimize common mistakes made on tax returns.

Key Course Concepts: Tax Court Cases, Reasonable Compensation, Sec. 530 Relief, Debt v Equity, Charitable Contributions, Capital Gain v Ordinary Income, Basis in S Corporation Stock, Federal Tax Liens, Valuation Misstatement Penalties, Refund Claims

Learning Objectives

  • Discover how the court system works when appealing an unfavorable IRS audit determination.
  • Explore how to determine if compensation paid to key employees is “reasonable.”
  • Recognize the importance of substantiating business deductions to avoid their disallowance and potential reclassification as constructive dividends.
  • Recognize the importance of distinguishing between capital and ordinary gains/losses.
  • Discover the requirements for claiming a charitable deduction.
  • Recognize the need for “due diligence” when classifying workers as independent contractors rather than employees.
  • Explore the role of penalties in the administration of our tax laws.
Last updated/reviewed: November 9, 2019

6 Reviews (37 ratings)Reviews

4
Member's Profile
This course involves review of court cases centered around five or six main "themes" of corporate tax law. The professor does an excellent job highlighting some of the most important concepts in tax law.
5
Member's Profile
Very interesting cases, a good overview of issues heard by the courts
5
Anonymous Author
interesting discussion of the judicial tax updates for 2019
4
Member's Profile
Cases were well summarized and easy to understand
4
Member's Profile
Very good update. Instructor did a good job.
5
Member's Profile
really good

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION and OVERVIEW
  5:17Introduction to the 2019 Judicial Tax Update
  13:10Federal Judicial System
Tax Cases
  22:56Tax Cases - Reasonable Compensation, Constructive Dividends
  9:08Tax Cases - Debt V Equity
  14:28Tax Cases - Other Expenses
  15:22Tax Cases - Other Expenses (Continued)
  7:21Tax Cases - Gain/Loss
  15:27Tax Cases - Tax Administration
  2:46Conlcusion
Continuous Play
  1:45:542019 Judicial Tax Update
SUPPORTING MATERIALS
  PDFSlides: 2019 Judicial Tax Update
  PDF2019 Judicial Tax Update Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM