John Woolley

Washington, D.C., United States

Reporter at Bloomberg Law

Litigation @BLaw • Hoya Saxa • 🎹👾✏️ • He/Him • Prev: @CBSNews @StreetSenseDC @GtownVoice

Articles

Hyatt’s $300 Million Rewards Program Fund Is Income, IRS Argues

6 days ago | news.bloombergtax.com | John Woolley

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Olympic Games Artifact Donation Sparks Tax Tiff Worth Millions

6 days ago | news.bloombergtax.com | John Woolley

A former Olympics foundation chairman sued the IRS to challenge more than $3.62 million in income tax deficiencies and penalties the agency asserted after examining his US Olympic Museum donation’s tax consequences. Gordon and Dona D.
Donor’s Bid to Expand Easement Tax Break Gets Cold Reception (1)

1 week ago | news.bloomberglaw.com | John Woolley

Court shrank tax break from $17.5 million to under $4 millionDonor said deduction limit applies only to land, not easementsA Tennessee easement donor was grilled by an Eleventh Circuit judge during oral arguments Thursday over an alleged limit on its tax deduction for charitable giving. Glade Creek Partners LLC donated a conservation easement over more than 1,300 acres north of Chattanooga, Tenn., then deducted the easement’s purported $17.5 million fair market value as a charitable contribution.
Court Freezes a Corporate Transparency Act Appeal for Final Rule

1 week ago | news.bloombergtax.com | John Woolley

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Civilian Air Force Contractor Denied Deduction for Ordered Move

1 week ago | news.bloombergtax.com | John Woolley

A contractor for the US Air Force can’t deduct moving expenses from her taxes because she wasn’t an active duty service member, the US Tax Court ruled Tuesday. Wendi and Tim Kent sued the IRS to contest a tax deficiency issued in July 2023 over a disallowed deduction for their moving expenses related to Wendi’s job as a civilian contractor for the Air Force. Special Trial Judge Jennifer E.
Civilian Air Force Contractor Denied Deduction for Ordered Move

1 week ago | news.bloomberglaw.com | John Woolley

A contractor for the US Air Force can’t deduct moving expenses from her taxes because she wasn’t an active duty service member, the US Tax Court ruled Tuesday. Wendi and Tim Kent sued the IRS to contest a tax deficiency issued in July 2023 over a disallowed deduction for their moving expenses related to Wendi’s job as a civilian contractor for the Air Force. Special Trial Judge Jennifer E.
US Urges Tossing Challenge to Employee Retention Credit Guidance

1 week ago | news.bloombergtax.com | John Woolley

A payroll services firm should be unable to challenge the IRS’s guidance for evaluating employee retention credit claims because that guidance doesn’t impact whether the company will get its refund, the federal government said. First Source Employee Management Inc., which provides payroll services to nursing and hospice care providers, sought to block the government’s use of agency guidance for determining ERC eligibility.
IRS Seeks Taxes From Doctor Who Said Vaccines Magnetize People

1 week ago | news.bloombergtax.com | John Woolley

XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
‘Embassy of Heaven’ Tax Promoter Faces Foreclosure Over US Debts

1 week ago | news.bloombergtax.com | John Woolley

A longstanding promoter of a tax evasion scheme using an Oregon church must relinquish his home for judicial sale to satisfy part of his $1.26 million liability, a federal court said. Glen A. Stoll, who previously pleaded guilty to tax evasion and conspiracy to defraud the US, offered “contradictory arguments” as to why his Marysville, Wash., property should escape foreclosure, the US District Court for the Western District of Washington said May 2.
US Appeals Privacy Ruling Against Corporate Transparency Act

1 week ago | news.bloomberglaw.com | John Woolley

The US Treasury Department appealed a Michigan federal judge’s ruling that the Corporate Transparency Act violated the Fourth Amendment rights of small businesses and nonprofits against unreasonable search. The CTA was created to combat money laundering, tax evasion, drug trafficking and other illicit financial schemes that commonly use anonymous shell companies.