Taxpayer’s audit handled by another power of attorney resulted in $179,640 of tax and penalty after an extensive audit. Taxpayer came to Abajian Law who petitioned the United States Tax Court; stipulation was entered for the case and all issues were resolved for $15,239.
Taxpayer was disallowed ordinary and necessary business expenses stemming from a pass through entity and Taxpayer was not able to substantiate basis in the pass through entity during audit. Abajian Law became involved and helped Taxpayer substantiate expenses and prove up basis.