Texas CPA On Hook For $4M In Tax Deficiencies

Law360, New York (October 7, 2016, 6:16 PM EDT) -- The U.S. Tax Court on Thursday upheld Internal Revenue Service deficiency notices for nearly $4 million against a Texas certified public accountant, finding that he couldn't seek federal income tax deductions from efforts to investigate his father's death and that asset transfers among his partnerships pointed to tax avoidance.

Herb Vest, who is pro se, was hit with deficiency notices totaling almost $4 million for 2008 through 2010, partly due to income tax deductions he made after losing millions of dollars in an ongoing investigation into his father's death, which he believed was a murder. Although Vest had purportedly intended to...

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