Tax Court Corner: Significance of the ‘Cohan Rule’
- Craig W. Smalley, E.A.
- Jul 12, 2016
- 1 min read
Typically, when a taxpayer is audited by the IRS, the burden of proof falls on the taxpayer. In order to prove income and expenses, the US Tax Court has ruled that the taxpayer must keep “contemporaneous” records, per Reg. § 1.6001-1. But what if the taxpayer has some sort […]
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