House Tax Bill Would Help Not For Profit Sponsors Of Low Income Housing Partnerships
What the legislation is doing is saying that a Section 42 ROFR was never a common law ROFR. And to be fair that is what a lot of people assumed. Federal courts, so far, have not agreed. But now maybe Congress is setting them straight on what it really meant over thirty years ago.
Crackdown On Abusive Conservation Deductions Included In New Tax Legislation
This statement that “the owner can deduct the difference between the “value of the land if developed” and its value sans development” is false, dangerously misleading, and represents the underlying source of abusive, overvalued conservation easements.
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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.