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In an era of budget deficits, IRS has increased the number and amount of accuracy-related penalties, especially for individuals.,, In 2005, 58,366 accuracy-related penalties were assessed on individuals for a total of $325 million in penalties. By 2010...

In an era of budget deficits, IRS has increased the number and amount of accuracy-related penalties, especially for individuals.,, In 2005, 58,366 accuracy-related penalties were assessed on individuals for a total of $325 million in penalties. By...

Kay v. Comm'r, T.C. Memo 2011-159 (T.C. 2011) is yet another case that tackles the facts and circumstances query of a trader v. investor... ...[i]f a person buys and sells the same securities within the taxable year, in either case the income will...