Who’s Afraid Of Bank Reporting To IRS?
There is grounds to be skeptical that the IRS will get much out of the new information source. In 2018 TIGTA reported that IRS was not taking advantage of currency reports generated under the terms of the oxymoronic Bank Secrecy Act.
Part Of Build Back Better Could Be Disaster For Trust Owned Life Insurance
Take the case of an ILIT that is meant to take care of a special needs child after the parents are gone. It is funded by a second to die life insurance policy. If the second to die parent is leaving a nice house and some left over retirement funds, they might be close to or slightly whatever is then the federal threshold. Pulling in a big piece of the special needs trust would be nasty
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.