Eleventh Circuit Deals IRS Defeat In Conservation Easement Struggle
The Hewitt court seems only to have held that the regulation was invalid because it failed the procedural regularity test. The Court never engaged with the issue of whether the interpretation (as opposed to the regulation) was a valid interpretation of the governing statute, § 170(h)(5)(A). There is thus the possibility that the IRS could or should still prevail if the interpretation is the best interpretation of the statute.
Millennial Reviews The Old Man’s Tax Blog
Karen Slaughter is actually someone I know of- unlike the madcap tax dodgers my father usually casts for his posts. Doesn’t stop Peter from asking, just because I lived in the same state as his current obsession, if I’ve heard the name of some weird millionaire trying to deduct horse semen as hobby loss.
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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.