On Becoming Unstuck In Time
Listen. Pete Reilly has come unstuck in time. I've been thinking about easing up just a bit on forbes.com to start to get with some of the projects I have assigned...
Sumner Redstone Liable For Tax On Long Ago Gift
It seems like a really good argument, but it went nowhere. What is disturbing about this is that if you have a tax assessed and you don’t pay it, the IRS has ten years to collect it from you and then you are home free. (I don’t recommend that as a strategy, by the way, even though the current disarray at IRS is making it more practical) It does seem that there should be some limit on when they can come after you about an unfiled return.
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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.