Tag Archives: Gratuitous football highlights

The Allen Iverson Trilogy – A Postscript

We’ve previously posted about the City of Cleveland income tax refund claims brought by two former National Football League players, the grant of those refund claims by the Ohio Supreme Court, and the denial of Cleveland’s petition for certiorari by the United States Supreme Court.  As detailed in these prior posts, the Cleveland income tax … Continue Reading

Random Musings on Reasonable Expectations and on the Big Ten Conference

We’ve previously reported that the Internal Revenue Service (IRS) has issued eight private letter rulings under Internal Revenue Code (Code) Section 54A(d)(2)(B)(iii) that grant an extension of the three-year expenditure period that applies to an issue of qualified tax credit bonds (QTCBs).  An issuer of QTCBs must reasonably expect on the issuance date of the … Continue Reading

Allen Iverson – Still The Answer?

During his NBA playing career, former Philadelphia 76ers point guard Allen Iverson was known as The Answer.  He famously minimized the importance of practice compared to official games, making it clear that he was compensated for playing in games, not for practicing.  For income tax purposes, the City of Cleveland agrees with Mr. Iverson, taxing … Continue Reading

How not to Finance an NFL Stadium (If Tax-Exempt Financing is Intended)

The 2014 National Football League season is upon us, and Johnny Manziel is not the starting quarterback of the Cleveland Browns.  Johnny Football has no meaningful NFL regular season playing time to discuss, and his off-field exploits (and on-field bird flipping) are well-chronicled in other corners of the Web, so we can turn our attention … Continue Reading