Scacpa's Weekly Federal Tax Update

Lynn Nichols Federal Tax Update Podcast May 24, 2018, edition   Listen as Lynn Nichols provides commentary on 7 Items pertaining to current developments in U.S. tax law. This week’s topics include: OUR PROGRAM THIS WEEK INCLUDES . . . . . .   IRS Denies Tax-Exempt Status to Natural Gas Promoter The IRS denied tax-exempt status to an organization established to support the natural gas industry after concluding the organization operates in a commercial manner and benefits its founder and other insiders. [LTR 201818018; 2/6/2018, rel. 5/4/2018]     IRS Denies Exemption to Farmers Market The IRS denied tax-exempt status to an organization that operates a farmers market because it provides services for the convenience of vendors instead of improving the business conditions of its farmers market community. [LTR 201818017; 2/7/2018, rel. 5/4/2018]     Tax Court Says Burden Is on Partnership in Penalty Challenge It’s up to partnerships to prove they don’t owe penalties in legal challenges, even though the in