LexisNexis® Legal Newsroom
Trader or Investor, Sometimes It Feels Like a Coin Toss

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 be taxed at ordinary rates. However, losses and...

IRC Section 6662 Accuracy-Related Penalties

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, the number had increased by 700 percent to 469...