Accountants Plead Guilty On $1.2 Billion In Bad Charitable Deductions
In an interesting note Commissioner Rettig, US Attorney Murray and Deputy Assistant AG Zuckerman thanked special agents of both IRS-Criminal Investigation and US Postal Inspection Service. Many years ago an old timer told me that it was actually Postal Inspectors on loan who got Al Capone. There is something to the story.
Roots Of The 250% Solution To Charitable Easement Tax Abuse
The 2.5 limit knocks out the most egregious abuse, but it still strikes me as overly generous. If I was going to put in a limit it would probably be 90% on a three year hold and gradually rise. Remember the deduction is for an easement on the property. And unless you drink the Kool-Aid mixed by Partnership For Conservation (P4C), as easement can’t be worth more than the property itself.
Follow Me
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.