Tag Archive for Steven F. Jacoby

Tax Court Finds That IRS Did Not Prove Fraud, Therefore Statute of Limitations Was Closed!

Examining Tax Law

On April 6, 2015, following a trial in Tampa, Florida, the Tax Court ruled that back taxes and penalties imposed upon Mr. Jacoby were unfounded because they had not acted fraudulently in the filing of tax return.

The Court’s ruling overturned the IRS’s assessment of approximately $2 million in back taxes and penalties for positions taken by the taxpayers on their 1999 and 2000 tax returns relating to tax shelters promoted by KPMG and others.

Judge Juan F. Vasquez rules that Steven F. Jacoby, who worked as a licensed securities broker and account executive before starting his own financial strategies company, hadn’t intended to evade tax through concealing, misleading or otherwise preventing the Read more