Following up on this morning’s post, IRS Seeks to Treat Nursing Home Entrance Fees as Taxable Pre-Paid Rent, Not Tax-Free Interest-Free Loans: the Tax Court case is CC-Development Group, Inc. v. Commissioner, No. 7383-10. The Notice of Deficiency asserts $107.3 million in additional tax and $21.5 million in penalties. Here is the Tax Court petition.
