A Texas couple is challenging an IRS assessment of more than $3.5 million in deficiencies and penalties for underreporting income, arguing the agency wrongly recognized money they held on behalf of a United Arab Emirates business partner as taxable income.
A Texas couple is challenging an IRS assessment of more than $3.5 million in deficiencies and penalties for underreporting income, arguing the agency wrongly recognized money they held on behalf of a United Arab Emirates business partner as taxable i… [378 chars]
Source: Bloomberg Tax News | Published: 2026-07-09T21:08:16Z
Credit: Bloomberg Tax News
