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Winstar Corp., 518 U.S. 839 (1996), was a decision by the United States Supreme Court which held that the United States Government had breached its contractual obligations. The court in Winstar rejected the Government's "unmistakability defense"—that surrenders of sovereign authority, such as the promise to refrain from regulatory changes ...
The taxpayer subsequently deducted the legal fees he spent while defending himself. [8] The U.S. Supreme Court held that the taxpayer was allowed to deduct the legal fees from his gross income because they meet the requirements of §162(a), [ 9 ] which allows the taxpayer to deduct all the "ordinary and necessary expenses paid or incurred ...
The Court, however, made clear that it would review deduction determinations in light of the principle that the "federal income tax is a tax on net income, not a sanction against wrongdoing." [ 4 ] According to the Court, absent "a few limited and well-defined exceptions" (see below) § 162 does not limit deductions for losses to those losses ...
Many individuals and businesses wonder whether these expenses can be deducted from their tax returns. While personal legal fees are generally not tax deductible, legal fees related to business ...
County's legal fees are expected to be more than $300,000 Ottey acknowledged that the plaintiffs could request a rehearing or petition the U.S. Supreme Court for a review of the decision.
He added that the tax lien is now at more than $70,000. While a spokesperson for the new owners claims they will remedy “any mistake that may have been made related to the deed,” the future of ...
A judge or clerk of any court of the United States may tax as costs the following: (1) Fees of the clerk and marshal; (2) Fees for printed or electronically recorded transcripts necessarily obtained for use in the case; (3) Fees and disbursements for printing and witnesses; (4) Fees for exemplification and the costs of making copies of any ...
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