It may be the shortest month of the year, but February this year was loaded with important and interesting cases and rulings. Most important was the delay in most partnerships and S corporations having to include Forms K-2 and K-3 in tax returns and the suspension of certain IRS notices in light of processing delays. Most interesting was the musician who tried to deduct breathing exercises and meditation expenses as well as the gentleman who needed his wife to sign the S election—but got the signature of the wrong wife!

Learning Objectives:

• List the latest regulations, rulings, and pronouncements from the IRS


• Identify and summarize the most recent decisions out of the Tax Court and federal district courts around the country