A Florida real estate developer was correctly denied $18 million in tax deductions on loans his companies made for residential projects that became worthless, the U.S. government told the Eleventh Circuit on Monday, saying the money went to insiders and didn’t qualify as real debt entitled to the write-offs.
IRS Urges 11th Circ. To Affirm Denial Of $18M In Deductions
by usoftax_admin | Sep 9, 2024 | Tax News