Tax Pro Suggests How IRS Should Use Funds From Inflation Reduction Act
The Taxpayer Advocate does a good job monitoring the IRS and makes a large number of suggestions that are ignored by both the IRS and Congress. The IRS needs to open a dialogue with the Taxpayer Advocate and follow their recommendations regarding enforcement and everything else. Congress clearly needs to do the same.
Best Tax News Of The Year – Aegis For Dreams Wins Tax Exempt Status
A historically accurate Revolutionary War film hasn’t been made in fifty years (and arguably, ever). In my view, this was a key element of IRS’ granting the Foundation tax-exempt status: the film cannot compete against something that doesn’t exist. The Foundation’s Tax Court case magnifies this longstanding void in our country’s filmography. Aegis for Dreams fills that void. Charitable status puts the story itself at the forefront, not financial profit considerations.
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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.