| Autor: |
Diane A. Riordan, Michael P. Riordan |
| Rok vydání: |
2008 |
| Předmět: |
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| Zdroj: |
The ATA Journal of Legal Tax Research. 6:62-77 |
| ISSN: |
1543-866X |
| DOI: |
10.2308/jltr.2008.6.1.62 |
| Popis: |
Section 469 of the Internal Revenue Code limiting the current deduction of passive losses was introduced by the Tax Reform Act of 1986 in response to concerns that rental properties and other investments were acting as tax shelters for the rich. Application of the provision has resulted in a dynamic regulatory environment which often has been challenging to administer. The regulations have been amended and reissued so frequently that taxpayers have actually used the authoritative turmoil in the construction of their defensive arguments in the courts. In this paper we review a window of activity in the Tax Court and courts of appeal during the period just prior to the provision's twentieth anniversary to identify the issues that continue to challenge taxpayers and administrators. We find that, with few exceptions stemming from two of the six rental exceptions challenged in the Tax Court, the Commissioner has been successful in defending the Service's position on passive rental activity issues despite the dynamic environment. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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