Gorra v. Commissioner, U.S. Tax Court, T.C. Memo 2013-254. On November 12, 2013, the U.S. Tax Court decided a petition challenging the IRS’ disallowance of a tax deduction for a donated conservation/preservation easement. The donated easement was for the ostensible purpose of preserving a building façade and other historical characteristics of Read more…
Updated from an earlier post. On September 5, 2013, in a professional negligence case against two Colorado appraisers by the FDIC, a federal court ruled on an issue concerning USPAP confidentiality. It was a simple issue, but it’s one of the very few court decisions relating to USPAP’s poorly written confidentiality Read more…
Updated on 11/22/13. On November 14 and 18, Navigators Insurance Company sued three more appraisers to enforce “regulatory claims” exclusions in the E&O policies they purchased. These appraisers are in California and Nevada. Like the appraiser sued by Navigators in Florida on November 6, the new appraisers are being sued by the Read more…
Update: Navigators has sued three more appraisers to deny coverage under the same “regulatory claims” exclusion discussed in the post below. The more recent lawsuits are discussed in this later post. Yesterday, appraiser E&O provider Navigators Insurance Company filed a lawsuit in Florida against one of its own insured appraisers. In Read more…