TIGTA Report On IRS Exempt Process – End Of The Beginning?
Treasury is still revising draft guidance on how to measure the “primary activity” of social welfare organizations. Until the guidance is finalized the IRS does not have a clearly defined test for determining whether an application of a social welfare organization should be approved. This issue has been the focus of something called The Bright Line Project sponsored by Public Citizen.
IRS Partnership Adjustments In Millions May Produce No Tax
On occasion, the IRS has been faced with the challenge of securing a settlement agreement at the partnership level because the millions of dollars in adjustments would have resulted in zero taxes after applying the assessment tolerance for taxable partners.
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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.