The decision of the eighth circuit court of appeals

Assignment Help Financial Accounting

Reference no: EM131219332

John is a resident of Minnesota. Her 2015 federal income tax return is currently under audit. John and the Internal Revenue Service Agent assigned to his case have resolved all issues in his case except one. John's accountant has only discovered one case where the unresolved issue has been litigated and in that case, the Eighth Circuit Court of Appeals rendered a decision favorable to John's’s position. If John and the IRS Agent cannot resolve this issue, He is considering filing a petition in Tax Court to resolve it.

a. If John filed a petition in tax court, is the tax court obligated to follow the decision of the Eighth Circuit Court of Appeals? Why or why not? Please explain.

b. Would your answer above change if John lived in Wisconsin? Please explain

Reference no: EM131219332

Questions Cloud

What is the appropriate remedy : Maria Palomo purchased a used car from LeBlanc Hyundai Partnership. She explained to the sales representative that she needed the car to go to work and to take care of her grandchildren. She appealed the decision. Should Palomo be allowed to revoke a..

Using software program recommended and installed by seller : David Cooper purchased a computer and software for his supermarket business. He was using a software program recommended and installed by the seller, Contemporary Computer Systems, Inc. The sales contract had a clause that stated that no refunds woul..

Entered into sales contract with the defendant : Amar entered into a sales contract with the defendant, Karinol, for the purchase of electronicwatches. The contract was silent as to shipping terms. However, the contract did have a notation in it stating that the goods were to be delivered to a loca..

Claimed to be the sole owner of the painting : In 1987 R.H. Love Gallery owned the title to a painting entitled Marlton’s Cove. The gallery sold 50 percent of the painting to Altman Fine Arts, a New York art dealer, and 50 percent to Andre Lopoukhine, a Boston art dealer. In 1989, plaintiff Morgo..

The decision of the eighth circuit court of appeals : John is a resident of Minnesota. Her 2015 federal income tax return is currently under audit. John and the Internal Revenue Service Agent assigned to his case have resolved all issues in his case except one. If John filed a petition in tax court, is ..

The business is organized as general partnership : Jane and Suzan are interested in organizing a new interior decorating business as 80-20 owners. Jane will contribute $80,000 in exchange for an 80% ownership interest and Suzan will contribute $20,000 for a 20% owners hip interest. Assuming the busin..

Equipment with an estimated market value : Elli Catering Services previously bought equipment with an estimated market value of $45,000 and is now offering it for sale at $65,000. The Trang Restaurant Group acquired it for $10,000 in cash and a note payable of $40,000 due in 30 days. The amou..

What is her current marginal tax rate : Campbell, a single taxpayer, earns $190,500 in taxable income and $4,200 in interest from an investment in State of New York bonds. How much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current m..

What are the consequences of actions : At the end of the current month, Gil Frank prepared a trial balance for College App Services. The credit side of the trial balance exceeds the debit side by a significant amount. Gil has decided to add the difference to the balance of the miscellaneo..

User Account

All Pages