Noteworthy Tax Court Facts

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Transcript of Noteworthy Tax Court Facts

  • Interesting Facts Every Tax Attorney Can (and Should) Know About United States Tax Court

  • The total number of cases filed has risen steadily for the past 9 years . . .

  • . . . the number of cases closed has lagged ever so slightly . . .

  • . . . leading to an increasing backlog of cases pending.

  • Very few cases closed are the result of a tax court opinion . . .

  • . . . and petitioners seldom prevail outright . . .

  • . . . but that does not mean the IRS always get all it demands.

  • Often, the IRS does quite poorly. Ouch!

  • Recently, enforcement seems to have shifted to smaller cases . . .

  • . . . where its recovery rates are much higher . . .

  • . . . as clearly seen here.

  • Finally, count the costs of an appeal beforehand.

  • About Hooper Cornells Valuation PracticeWhile we cannot provide this . . .We may be able to help avoid this . . .IRS

  • Idahos Most Experienced Valuation TeamDennis R. Reinstein, CPA/ABV, CVA, ASADennis has over 30 years experience and brings a real-world element to the valuation work that he performs. In addition to being a CPA, he holds valuation credentials from three accrediting societies He has been engaged by various law firms throughout Northwest as an expert witness on approximately 200 to 250 litigated cases. Dennis is a licensed Certified Public Accountant, Accredited in Business Valuation, a Certified Valuation Analyst, and an Accredited Senior Appraiser. He has degrees in Agri-Business and Accounting from the University of Idaho.

    Peter J. Butler, MBA, CFA, ASAPeter has more than 15 years of valuation experience, including analysis of venture capital and class action securities litigation. He holds a BS in mechanical engineering from the U.S. Naval Academy and an MBA from San Diego State University. Further, Peter possesses the chartered financial analyst (CFA) and accredited senior appraiser (ASA) designations. Peter co-developed the Butler Pinkerton Model,TM a web-based calculator used to quantify company-specific risk. He is a published author with articles in the most respected journals in the field and often teaches at national business valuation conferences.

    Keith A. Pinkerton, MBA, CFA, ASASince 1995, Keith has specialized in the appraisal of closely-held businesses and business interests. Preceding his entry into valuation, he worked as an Economist for the US Department of Agriculture, where he focused on foreign economic development programs. He has traveled extensively throughout the former Soviet Union. Keith holds the Chartered Financial Analyst and Accredited Senior Appraiser designations and has earned an MBA from Baylor University and a BA in Economics from the University of South Florida. Mr. Pinkerton has published several valuation-related articles and has taught at national business valuation conferences.