Substantiation, Entity Indebtedness, and Business Expense Deductibility: An Analysis of the Simmons Case — Current Federal Tax Developments
Cathryn A. Simmons v. Commissioner, T.C. Memo. 2026-34 (April 22, 2026) In a recent memorandum decision, the United States Tax Court addressed recurring substantiation issues surrounding closely held entities, commingled funds, and rental real estate deductions. The taxpayer, Cathryn A. Simmons, p
Cathryn A. Simmons v. Commissioner, T.C. Memo. 2026-34 (April 22, 2026) In a recent memorandum decision, the United States Tax Court addressed recurring substantiation issues surrounding closely held entities, commingled funds, and rental real estate deductions. The taxpayer, Cathryn A. Simmons, p
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