KPMG Haunted By Its Tax Shelter Follies
I don’t have a lot of sympathy for the taxpayers, but I have even less for KPMG. They were, probably still are, one of the most prestigious accounting firms in the world. Finding out that a deal that they recommended had no merit at all – didn’t even make good nonsense – was probably kind of shocking. Regardless, the third circuit ruled that some of the grounds of the lawsuit deserve to be considered.
‘Taxing The Church’: Can’t Build That Wall Of Separation
Professor Zelinsky’s conclusion that both forms of the parsonage exclusion – in-kind and cash – are constitutional, but that the cash exclusion is poor tax policy probably won’t win him friends at either the Freedom From Religion Foundation or the Ethics and Religious Liberty Commission of the Southern Baptist Convention, but the nuanced view is an important one. Advocates on both sides of the religious exemption divide would be well served by reading this book and pondering its arguments.
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.