Edmund Burke 360x1000
1falsewitness
Margaret Fuller2 360x1000
Richard Posner 360x1000
Lafayette and Jefferson 360x1000
1lafayette
Adam Gopnik 360x1000
storyparadox3
199
4albion
1gucci
1transcendentalist
4confidencegames
3paradise
lifeinmiddlemarch2
9albion
2confidencegames
1empireofpain
Stormy Daniels 360x1000
Learned Hand 360x1000
8albion'
2falsewitness
Mark V Holmes 360x1000
lifeinmiddlemarch1
Mary Ann Evans 360x1000
2albion
1paradide
Margaret Fuller1 360x1000
Office of Chief Counsel 360x1000
1defense
James Gould Cozzens 360x1000
Brendan Beehan 360x1000
5confidencegames
12albion
Samuel Johnson 360x1000
3albion
13albion
Anthony McCann2 360x1000
2transadentilist
11albion
LillianFaderman
2lookingforthegoodwar
Thomas Piketty1 360x1000
1madoff
2lafayette
Margaret Fuller4 360x1000
1jesusandjohnwayne
2trap
Maurice B Foley 360x1000
storyparadox2
2paradise
6albion
399
7albion
Thomas Piketty3 360x1000
3defense
George F Wil...360x1000
Margaret Fuller 2 360x1000
Maria Popova 360x1000
10abion
AlexRosenberg
1lauber
7confidencegames
Tad Friend 360x1000
1theleasofus
14albion
2defense
George M Cohan and Lerarned Hand 360x1000
Spottswood William Robinson 360x1000
Anthony McCann1 360x1000
Margaret Fuller 360x1000
2gucci
Susie King Taylor2 360x1000
Thomas Piketty2 360x1000
Gilgamesh 360x1000
1albion
1confidencegames
Margaret Fuller3 360x1000
1trap
11632
Margaret Fuller5 360x1000
1lookingforthegoodwar
299
2jesusandjohnwayne
3confidencegames
Betty Friedan 360x1000
Susie King Taylor 360x1000
Ruth Bader Ginsburg 360x1000
3theleastofus
Storyparadox1
5albion
6confidencegames
2theleastofus
499
Too Much Assuming Leads To Over Quarter Million Late File Penalty

Too Much Assuming Leads To Over Quarter Million Late File Penalty

I think that the result in this case is rather harsh.  Given how compliant the taxpayers were once they got their act together, I think the government should have been satisfied with the late pay penalty.  The problem would have been easily avoided if they had been more proactive in communicating with their professionals and if the professionals had been communicating with one another.   You can’t tell from the decision why the proactivity was not happening. There may have been an understandable desire to minimize fees.  If that is the case it was kind of a penny wise, pound foolish result.

I think that you could use this case as an object lesson in why you might want to consider involving a professional as at least a co-executor, if you have a significant estate.  At any rate, you should try to arrange things so that your advisers and heirs/executors will work as a team.

read more
Massachusetts Hits Staples For $10 Million On Sham Interest Deductions

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”.

read more

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.