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Proposed IRS regulation a taxing matter for relatives

Proposed regulations from the Internal Revenue Service confirm that blood is thicker than water, but estate planning attorneys say the new rules could hand family-owned businesses much higher tax bills simply because they are family.

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Domestic relations, tax sale case designations to change

Domestic relations case-type designations will change in 2017, from “DR” for all case types to “DC” for cases in which children are involved and “DN” for those without children. The change was announced in an Indiana Supreme Court order issued Friday.

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Emails heat up lawsuit over sale of Pacers stake

Attorneys for the IRS have gotten their hands on an email that appears to buttress their case that Herb Simon received a sweetheart deal when he acquired his ailing brother Mel’s 50 percent ownership in the Indiana Pacers in early 2009, just a few months before Mel died at age 82.

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Vendor, Department of Revenue win partial victories on sales tax case

The Indiana Department of Revenue and a company that sold food through vending machines and its cafeteria both were victorious in Indiana Tax Court Thursday on the issue of whether all of the company’s vending machine sales and cafeteria sales are subject to sales tax and negligence penalties.

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Tax court adjusts sales, use taxes for contractor

The Indiana Tax Court reversed some issues and affirmed others related to Miller Pipeline’s claim of refund of sales and use taxes remitted for the 2006 and 2007 tax years, ruling the contractor overpaid by tens of thousands of dollars.

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7th Circuit: Horse racing venture was a business

An Indiana man who ran a horse racing business had his tax deficiencies for the 2005 and 2006 tax years voided by the 7th Circuit Court of Appeals after Judge Richard Posner ripped apart an opinion by the U.S. Tax Court.

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Man, IRS win split Tax Court decisions

The Indiana Tax Court ruled Nick Popovich should get $24,963 for successfully prosecuting his first motion to compel against the Indiana Department of Revenue, but ruled the Department of Revenue should get $5,175.25 in court fees for successfully defending Popovich’s second motion to compel.

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IU students offer free tax assistance

Students with Indiana University Maurer School of Law and the Kelley School of Business will assist local taxpayers with free tax preparation help during February and March.

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