Settlement of Accounting Malpractice Case Was Gross Income, Holds Eleventh Circuit

In McKenney v. United States, No. 18-10810 (11th Cir. Sept. 1, 2020), in a matter of first impression, holds that the settlement of an accountant malpractice lawsuit is includable in gross income, even if the alleged damages concerned the payment of federal taxes. The panel gives no credence to several items in the record thatContinue reading “Settlement of Accounting Malpractice Case Was Gross Income, Holds Eleventh Circuit”