August 2016

IRS acquiesces in 9th Circuit decision in Voss v. Commissioner, argued by Emily Kingston

The recent IRS acquiescence is discussed at the TaxProf Blog and at Accounting Today, and Ms. Kingston commented on the development for the Orange County Register in  “Shacking up? Business partners? Your deduction is double”
“Divorce attorneys, CPA’s, realty agents and the vacation home folks at Airbnb must be just giddy about the good folks at the Internal Revenue Service. Why? Because this week the IRS acquiesced on last year’s 9th Circuit Court of Appeals decision in Voss v. Commissioner that reversed a tax court ruling. Now, unmarried borrowers can get up to double the mortgage interest deduction that married joint tax filers receive…”