August 2026 Tax Developments – Part II – Fraud Theft Loss Mostly Allowed
The joke was that there were three ways to get out of a burned out tax shelter tax free. You could put it into a defective grantor trust and after crossover cure the defect. It was a great idea, but probably didn’t work. You could die, but that was a little extreme. The one that really worked was to give it to your spouse and get a divorce.
August 2026 Tax Developments – Part I – I Still Hate Crypto
Note that if Ms. Boechler had followed the Seventeenth Law, miscalculating the due date by a day would not have been a problem. There were a lot of other demands on her time, including caring for her mother, but here is one that mystifies me a bit:
“Between August 17th and August 22nd of 2017, Ms. Boechler traveled to New York to assist her son in moving into his college dormitory. While there, she assisted him with his move and attended parent meetings at his new college.”
I have to admit that my ex-wife did that for our son, but I just didn’t get it. I also had a single mother and she helped me pack the trunk that got shipped to the college, but when it came time to go I just went.
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.