CAM/MATisms
"Practice Area" Trivia
Cases Pinned to the "MAT"
Retired but not Forgotten
Name the Code Section
100
On behalf of the entire group, we wish Jill a happy _______ at the end of the year.
What is RetireMAT.
100
This Practice Network contains the smallest staff of SMEs.
What is the Penalties PN? ( It lists 6 members.)
100
TP owned/operated slot machines that had progressive jackpots. Nevada gaming regulations prohibited reducing the payoff without paying. Accrual method TP sought to deduct the annual increase in the jackpot not yet won by tax year end. The Supreme Court held accrued under State law and the liability was fixed under all events test.
What is United States v. Hughes Properties, Inc., 476 U.S. 539 [58 AFTR 2d 86-5062] (1986)? Or Hughes Properties.
100
"Phil"osophically he was the "Godfather of MAT".
Who is Phil Whitworth? We would wonder if Phil has gone on to lecture at the Whitworth University..
100
All the code sections that MAT PN is responsible for are in this Subtitle of Title 26 of the Internal Revenue Code.
What is Subtitle A?
200
It's the MAT-version of this Broadway show of Pygmalion. " ______ _______ Lady"
What is "MAT Fair Lady?" Granted that the MAT version would be very off-Broadway, but practice (network) makes perfect.
200
This Practice Network contains the most SME members according to the PN website staffing information.
What is DCE? (It has 37 members.)
200
This court case found the Commissioner did not abuse his discretion under IRC section 446 when he determined that the cash method of accounting did not clearly reflect the income of two of the Taxpayer's subsidiaries in this case. It also included a plaintiff that sounds like a malapropism for a 1980's crime show.
What is Knight-Ridder Newspaper Inc.? Knight-Ridder Newspapers, Inc. v. U.S., 743 F.2d 781 (11th Cir 1984)
200
This former Lion-hearted MAT member from San Diego, California spent significant time as a Grade 14 field agent prior to his retirement this year.
Who is (was?) Richard Harris? Richard was a collateral SME dating back to the beginning of the program in April 2011.
200
Of IRC sections 446, 451, 453, 461 and 481, the section not derived from the 1939 code.
What is IRC section 481? As per the Joint Committee on Taxation Derivations of Code Sections of the IRC of 1939 and 1954.
300
In a benefit ad publicity CAMpaign staged on Sunday, May 25, 1986, 6.5 million people held hands in a human chain for 15 minutes along a path across the contiguous United States. The famous song from that event was called (CAM version): "CAMs ______ _______ "
What is (was?) "CAMs Across America." In recent years, this was a topic of humorous discussion when east-coasters would CAMlaborate with Dave Boschetto and Richard Harris, both from CAMlifornia.
300
These are the 3 R's in "3 R's and Banking"
What are RICs, REITs and REMICs
300
A name for a type of butter, the former stadium of the New York Mets and the construction industry petitioner in a court case that is part of the foundation in law for the Land Developer Campaign.
What is Shea? ( Shea Homes Inc. and subsidiaries, et al v. Comm.
300
MAT articulates would have "auto"matically been silent without her.
Who is Terri Harris?
300
This code section determines the year prepaid subscription income to which this section applies, shall be included in gross income.
What is IRC section 455?
400
MAT DAILY DOUBLE!!!
In this MAT-version of the famous TV-commercial from the 1980s: You would double your pleasure with double-good, double-fresh, double MAT ____ .
400
While arguably a format error the LB&I PN Homepage adds this to the Code numbers when performing a search of PN code sections.
What are commas? (i.e., IRC 1,341 or IRC 4,999)
400
A court case that addressed whether a casino, using the accrual method of accounting, could deduct the value of slot club points earned by slot club members in the tax year minimum required points accumulated to redeem a prize, or whether the casino had to wait to deduct the value of the slot club points until the members actually redeemed them (Hint: Nevada case, and "Grrrr...")
What is Gold Coast Hotel & Casino v. United States, 158 F.3d 484 ?
400
This former MAT member was a Californian hailing from Pittsburg but is now a European "Jet-setter"
Who is Dave Boschetto? Also acceptable "Where in the world is Dave Boschetto?
400
According to this code section a taxpayer who is on an accrual method of accounting may elect not to include in its gross income for the taxable year the income attributable to the qualified sale of any magazine, paperback, or record which is returned to the taxpayer before the close of the merchandise return period .
What is IRC 458 ?
500
Quote attributed to one of the early world "method changers" -Julius Caesar.
What is "I CAM, I saw, I conquered!"
500
This code section under the authority of the CAB PN regarding the inclusion in gross income of deferred compensation under nonqualified deferred compensation plans sounds like the subject of a Beach Boys song mixed with a "Fonzi" exclamation.
What is IRC section 409Aaayyyy?
500
In this inventory CAM case (which was probably tried on a Waynesday), the court CAMcluded that the Taxpayer's inventory revaluations were a CAM.
What is Wayne Nut & Bolt Co. 93 T.C. 500 (1989) Aka: If it's an inventory issue, most of the time it will be a CAM.. :)
500
This MAT associate is a SB/SE member and technically neither retired nor forgotten. But she will be missed!
Who is Jill El Bendary?
500
IRC section 461 of the 1954 Internal Revenue Code was derived from this section of the 1939 Internal Revenue Code.
What is Code section 43?
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