Ole Miss Persuades Tax Court Judge to Slash Tax Bill in Half, a Tax Victory for Athletic Programs

Ole Miss successfully convinced a tax court judge to reduce the university’s tax liability by 50 percent with respect to revenue the school brought in by sending its coaches to Nike and Coca-Cola sponsored functions. In August 2015, the IRS notified the university that the income received for these appearances were taxable under IRC sections 511-513, because it constituted “unrelated business income” for exempt organizations. Ole Miss responded by filing a petition with the tax court disputing its tax liability in late 2015, arguing the…
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Complicated: Rihanna Takes Former Accountants to Court for Mismanagment

R&B singer Rihanna (Robyn Fenty) filed a complaint against her former accountants. Berdon LLP, in the U.S. District Court of the Southern District of New York on Thursday, July 5, alleging that the accountants had intentionally kept her in the dark on her financial situation, resulting in millions of dollars in losses and exorbitant commissions paid. Rihanna hired Berdon in 2005, when she was 16 and just beginning her musical career. She entrusted the firm with providing her accounting, business, and financial management services. Under…
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