Texas law provides for a cause of action known as “money had and received.” The cause of action for money had and received is equitable in nature. The claim belongs conceptually to the doctrine of unjust enrichment and seeks equitable relief. The question, in an action
Tax
Negligent misrepresentation in Texas
By Freeman Law
When parties negotiate a contract, they make representations to each other like, “this product is like new” or “this is the best product on the market.” If those representations are false and made recklessly, the person making the representation may…
Can You Sue the IRS for Damages?
There are times when IRS employees violate the law. This includes intentional and negligent conduct that violates the law. Many of these violations go unreported. This is often for fear of retaliation or lack of resources. It may also be…
Market Value vs. Book Value – Proving Consequential Damages
On January 14, 2022, the Texas Supreme Court issued its opinion in Signature Industrial Services, LLC v. Ogden, _ S.W.3d _ (Tex. Jan. 14, 2022) [20-0396). The court address the age-old question of How to measure consequential damages in …
What Can the State of Texas Do to Collect State Taxes?
By TL Fahring
So, the Texas Comptroller of Public Accounts (“Comptroller”) says you owe state tax. If the deficiency determination hasn’t yet become final, you still may be able to challenge the underlying tax liability (for more on that, read this post). But…
Taxpayer’s Testimony on Businesses Losses Defeats IRS Arguments and Penalties
Starting any business has risk, and most businesses take time to become profitable. Unfortunately, the IRS sees multiple years of losses from a business as a red-flag that usually results in further scrutiny. That scrutiny can result in disallowance of…
CDP Proceedings—Is the Time Limit in Section 6330(d)(1) a Jurisdictional Requirement for Tax Court Petitions?
In the tax universe, deadlines are normal and expected. Most Americans are familiar with income tax filing deadlines (e.g., April 15th), and businesses are familiar with employment tax deadlines (e.g., January 15th). Statutory deadlines also apply to taxpayers involved in…
Criminal Tax Statutes of Limitations and Suspensions: 18 U.S.C. § 3292 and the Fifth Circuit’s Decision in Pursley
In civil and in criminal cases, the Government must generally act within a certain prescribed time to take action against taxpayers. In legal parlance, this period of time is known as the “statute of limitations.” The statute of limitations generally…
The Foreign Tax Credit
U.S. taxpayers are generally taxed on their worldwide income. But what happens when that income is also taxed by another country? The Internal Revenue Code’s primary mechanism to alleviate this double taxation of income is the foreign tax credit. The…
Implied-Revocation Doctrine Revived by Texas Supreme Court
Angel v. Tauch, __ S.W.3d __ (Tex. Jan. 14, 2022) [19-0793]
Facts: South State Bank held a $4.6 million judgment against Kyle Tauch, an individual. The Bank offered to settle the judgment debt for $2 million. Before Tauch accepted…