Massachusetts Hits Staples For $10 Million On Sham Interest Deductions
The cause might have been hopeless, but some attention to detail might have helped. This case makes me wonder how solid many other corporate tax schemes would turn out to be if subject to much in the way of scrutiny. Accountants tend to think that journal entries are deeply meaningful, but it seems that whenever they are tested in court, judges are dismissive of “mere bookkeeping entries”.
Irwin Schiff Famed Tax Protester Dies In Prison
When I first encountered Schiff’s arguments in the nineties I was so impressed by how well put together they were, that I found it difficult to believe that they were constructed by someone who believed them, as citations always checked out, but were wildly out of context. Irwin, however, has proved his sincerity. That doesn’t make his arguments right, but it does merit some grudging admiration.
I was sad that Peter Schiff was not able to bring his father home for his last days,
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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.