TaxTrends Recent Cases and Rulings David O’Driscoll, J.D., LL.M. IN THIS DEPARTMENT Gains & Losses Insurance agency termination payments were ordinary income: Trantina, DC AZ Procedure & Administration CPA not liable for client’s trust fund penalty: Secret, DC WV Real Estate Taxpayer failed to establish dealer status: Wood, 11th Cir.   The reports of cases, rulings, etc., herein, except for the Reflections, are edited versions of the relevant court opinion, published ruling, etc. *This development, concerning related matters, is covered in the Reflections to the report of the principal item.

2005 AICPA