While the IRS overassessed the net profits of a former car salesman and his wife, after analyzing and adjusting the couple’s gross income, cost of goods sold, and Schedule C expenses, the US Tax Court said they still failed to report about $1.1 million.
Jeffery Leon is a Legal Reporter at Bloomberg Law and WTOP News. He focuses on the intersection of legal issues related to animals and animal cruelty, while also covering broader topics such as IRS regulations, taxes, lawsuits, fraud, and cryptocurrency. Jeffery's insightful reporting has been featured in prominent outlets including Bloomberg Law and WTOP News.