The Supreme Court says a farming family has to pay tax on the bankruptcy sale of their farm.
The high court on Monday voted 5-4 for the IRS in its fight with Lynwood and Brenda Hall over their bankruptcy sale of their 320-acre farm in Willcox, Ariz.
The Halls were forced to sell their family farm for $960,000 to settle their bankruptcy debts. That sale brought about capital gains taxes of $26,000.The Halls wanted the taxes treated as part of the bankruptcy, paying part of it and having the court discharge the rest.
The IRS objected to that plan, saying all of the taxes must be paid and the 9th U.S. Circuit Court of Appeals in San Francisco agreed with the tax agency.
The high court agreed with that decision.
Guy Benson - Top Senate Foreign Relations Committee Democrat Opposes Obama's Iran Deal
Hugh Hewitt on Trump: I don’t think it’s a gotcha question to ask about the forces surrounding Israel
An Unserious Candidate for an Unserious Country | RedState
Lawrence Meyers - Uber’s Death by A Thousand Cuts
Concealed Carrier Shoots Armed Robber In Detroit... Again. Still. - Bearing Arms - Detroit, Guns Saving Lives, Michigan
'Gut wrenching': Deputy Goforth's son wears superhero shirt to funeral he planned to wear with his dad
The Koran’s Contents—Not Carbon Dating—Cast More Doubt on Islam’s Origins | Human Events