Office of Chief Counsel Internal Revenue Service Memorandum Release Number: AM2008-011 Release Date: 12/12/2008 CC:ITA:B01 POSTN-138904-08 Third Party Communications: None Date of Communication: Not Applicable UILC: 165.08-00, 61.00-00 Date: December 5, 2008 To: Roland Barral, Area Counsel (Large & Mid-Size Business) From: George J. Blaine, Associate Chief Counsel (Income Tax &...
Mayer v. Commissioner of Internal Revenue (2000)
SOLOMON MAYER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent United States Tax Court. T.C. Memo. 2000-295, 2000 WL 1349156 (U.S.Tax Ct.), 80 T.C.M. (CCH) 393, T.C.M. (RIA) 2000-295, 2000 RIA TC Memo 2000-295 (Cite as: T.C. Memo. 2000-295, 2000 WL 1349156 (U.S.Tax Ct.)) No. 23357-96. September 20, 2000. Background: Taxpayer petitioned for redetermination of deficiencies arising from...
Revenue Procedure 77-29 Section 3
Revenue Procedure 77-29, Section 3 SECTION 1. PURPOSE. The purpose of this revenue procedure is to provide guidelines to taxpayers concerning the treatment of wagering gains and losses for Federal income tax purposes and the related responsibility for maintaining adequate records in support of winnings and losses. SECTION 2. BACKGROUND. Income derived from wagering transactions is includible in...