Celebrate This Saint Patrick’s Day The Kent Hovind Way
The Kent Hovind trial has played havoc with my St. Patrick's Day preparations. His grip on my mind continues as I even realize there is a St. Patrick's Day connection...
Court Dismisses Suit Against Government From IRS Search That Led To Suicide
The government does not now disagree with the general proposition that a partner is taxed on distributions removed from a partnership only to the extent that the distributions exceed the partner’s adjustedbasis inthepartnership. 26U.S.C. §731(a). In reviewing the written and oral exchanges at trial surrounding this issue, it is apparent that the district court (against all odds, given the manner in which it was argued) also understood this general legal proposition but simply did not agree that the evidence Simon sought to introduce was relevant to demonstrating his adjusted basis in the partnership.
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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.