Banks Not Providing Taxpayers With Accurate Mortgage Interest Information
It seems that this problem should really be solved by the IRS. Tell the banks exactly what they are supposed to put on Form 1098 and provide some sort of expedited refund process. It crosses my mind that maybe some sort of catch-up deduction considered as an accounting method change might do the trick including giving relief for closed years.
Tax Lawyer Advises Jeff Bezos To Use Social Welfare Organization For His Philanthropy
One of the things that would hold donors back from funding 501(c)(4) was uncertainty about whether such gifts would be subject to gift tax. IRS revenue agents looking into that possibility provided some grist for the seemingly endless IRS scandal as disclosed by a Judicial Watch document dump that I covered here. Congress fixed that in 2015. There is still an estate tax issue but Mr. Miller indicates there is a fix to that. It is pretty technical, so I will let you dig that out of his article if it is worrying you.
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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.