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.
Tax-free Roth Conversions – From The Boston Tax Institute
Lu Gauthier of the Boston Tax Institute has given me permission to reproduce his email blasts. BTI is a great value for live tax continuing professional education....
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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.