Comments on: Tax Court Denies Legitimate $19M Charitable Contribution Deduction for Failure to Comply With Appraisal Requirements http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/ Fri, 26 Apr 2013 02:37:27 +0000 hourly 1 http://wordpress.com/ By: Second Circuit’s Decision to Reverse Scheidelman Gives Second Life to Charitable Contribution Deduction « Double Taxation: A Take On All Things Taxes http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-3579 Tue, 31 Jul 2012 22:02:49 +0000 http://double-taxation.com/?p=3502#comment-3579 [...] During 2004, Steve and Rory Rothman executed a conservation deed of easement to the National Architectural trust, a donee that likely doomed the taxpayers from the start. The Rothmans engaged Mitchell, Maxwell & Jackson, Inc. (MMJ) to perform the qualified appraisal supporting the contribution. (For more on the qualified appraisal rules, see here). [...]

]]> By: The Tax Court Really, Really Hates Your Charitable Contribution: Rothman v.Commissioner, Examined « Double Taxation: A Take On All Things Taxes http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2768 Mon, 11 Jun 2012 23:00:47 +0000 http://double-taxation.com/?p=3502#comment-2768 [...] the second time in three weeks, the Tax Court denied a deduction for the charitable contribution of property for failure to comply [...]

]]> By: Week in Review: 5.28 – 6.1.2012 « Double Taxation: A Take On All Things Taxes http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2638 Fri, 01 Jun 2012 18:39:15 +0000 http://double-taxation.com/?p=3502#comment-2638 [...] the biggest news of the week, a California entrepeneur watches a $19M charitable contribution deduction go up in smoke for failure to follow appraisal/substantiation [...]

]]> By: News for Nonprofits « Cash Accounting and Consulting http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2637 Fri, 01 Jun 2012 16:51:57 +0000 http://double-taxation.com/?p=3502#comment-2637 [...] Tax Court Denies Legitimate $19M Charitable Contribution Deduction for Failure to Comply With Apprai… by WithumSmithBrown [...]

]]> By: greg http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2596 Thu, 31 May 2012 05:41:34 +0000 http://double-taxation.com/?p=3502#comment-2596 @CPA – don’t assume. I see plenty of LegalZoom crap out there, and I wouldn’t be surprised if he cheaped out on the trust as well.

This year’s favorite: the client who told me she formed a corporation last year, and then told me she 1099′d herself. Fun

]]> By: WithumSmith Brown, CPAs http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2593 Wed, 30 May 2012 20:28:49 +0000 http://double-taxation.com/?p=3502#comment-2593 JR, you may have a point on the rules being necessary, but as for being onerous, we’ll have to agree to disagree.

]]> By: JR http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2592 Wed, 30 May 2012 20:13:26 +0000 http://double-taxation.com/?p=3502#comment-2592 The rules are neither onerous or unnecessary. If one is going to deduct something that is worth a substantial amount of money, the IRS is well within its right – acting on behalf of all taxpayers in this case – to make sure that the deduction is proper. It doesn’t matter that the taxpayer in this case understated the value of his property. The fact that he was the donor and donee and appraiser – that’s bupkis – he should have known better. The only thing I agree with is that he should have retained a CPA to prepare the return. Would he do brain surgery on himself if he could buy a $30 program from Best Buy to help him do it?

]]> By: Wiseman http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2591 Wed, 30 May 2012 19:26:34 +0000 http://double-taxation.com/?p=3502#comment-2591 Tell Mohammed to ask for his donation back.

]]> By: JR 553 http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2590 Wed, 30 May 2012 18:45:54 +0000 http://double-taxation.com/?p=3502#comment-2590 Too bad Mohamed didn’t present tax court or the IRS with the fact that cfr §1.170-13 has no force and effect of law according to Chrysler v. Brown and is NOT valid as a substantive regulation. The only method to get the tax court to apply this well documented standard of review is to make judicial notice of it via the APA.

]]> By: WithumSmith Brown, CPAs http://double-taxation.com/2012/05/29/tax-court-denies-legitimate-19m-charitable-contribution-deduction-for-failure-to-comply-with-appraisal-requirements/#comment-2588 Wed, 30 May 2012 17:41:25 +0000 http://double-taxation.com/?p=3502#comment-2588 Whoops, definately a typo victim. Changed.

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