More court related news ...
Preston and Elizabeth Olsen filed a US Tax Court petition back on Sept 28, 2016. Over SIX YEARS ago.
dawson.ustaxcourt.gov
That case became the "test case" for 200 or so other taxpayers who petitioned the Tax Court after their tax credit and depreciation claims were denied by the IRS. Their cases were placed on hold while the Olsen's case was being decided.
Judge Lauber sided with the IRS and ruled against the Petitioners on June 1, 2021. Over ONE YEAR ago, and almost FIVE YEARS following the filing of the Olsen's Petition.
The Petitioners appealed Judge Lauber's ruling on Sept 7, 2021. Also over ONE YEAR ago.
Case 21-9005
A panel of three judges affirmed Judge Lauber's ruling on Nov 4, 2022 (Yesterday), which means there have now been FOUR judges who ruled against the Petitioners. And, let's not forget that it was the IRS that initially disallowed the tax credit and depreciation benefits the Petitioners claimed on their tax returns.
The Appeals Court judges dismissed the case, saying it was "Terminated on the merits after oral hearing".
Not much room for second-guessing.
Those other 200 or so petitioners should know now, or will know soon, that they will be on the hook for repaying those benefits they received over a period of years for being involved in a promotion that sounded "too good to be true".
Some of the those Tax Court petitioners were "enthusiastic" forum members (on Raging Bull, Yahoo, Investors Hub, and Silicon Investor). Those folks repeatedly denigrated those nasty "Paid Bashers" who were posting FACTS and not HYPE. Hey you gullible folks ... are you ready to admit you were wrong?
I won't mention your name here, but you know who you are. And so do your fellow posters.
I will resist the temptation to say "TOLD YA SO" !!!
That reminds me of my old RB posting opponent "goodbet".
"If it sounds too good to be true, it probably is."
-- IRS
Sure is a pretty day.
TED |
