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b'We look at the exclusion for personal injuries under Section 104 this week, as well as the nature of a reasonable cause for purposes of escaping the imposition of a penalty.\\xa0 We use the case of Goode v. Commissioner, TC Memo 2006-48, to illustrate these issues.\\xa0
As well, we look at another attempt at getting reasonable cause to take a position--ask the President (as in George W. Bush), or at least have someone else do it and then claim to rely on the answer received when the question is delegated to an individual at the IRS.\\xa0 This was the attempt of teh taxpayer in Smith v. Commissioner, TC Memo 2006-51.
The materials can be downloaded from http://edzollars.com/2006-04-01_Injury.pdf.
This podcast is sponsored by Leimberg Information Services, located on the web at http://www.leimbergservices.com.
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