IRS Grinch Ruining Christmas For Syndicated Conservation Easements
Bill Clabough, Executive Director of Foothills is unable to comment on the case, since Foothills is not really involved in the tax structuring or the valuation. He can wax poetic on the beauty of the property and the satisfaction of having it preserved. And he assured me that there is not a lot of unexploded ordnance laying around. We made some tentative arrangements for me to visit the property, but that won’t be for a few months.
How Not To Deal With A Bad 1099
In an email exchange in one of the exhibits, it is mentioned that Jane’s attorney was charging $850 per hour. Given that Jane’s exposure might have been an unjustified tax deficiency in the $20,000 vicinity, it’s hard to see the value there particularly since having to pay any sort of deficiency would be highly improbable.
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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.