Tax Court Refuses To Extend Home Concrete Logic
But not so fast. The interesting thing is that the denominator of that fraction does not necessarily appear anywhere on your return, particularly if you are involved in flow-through entities (partnerships, S Corporations). Your share of the entity’s gross income is part of your gross income, but only the net, which might well be a loss shows up on your return. In order to compute your tax, we need to know your adjusted gross income, but your true gross income is usually of only academic interest. Unless of course, you are trying to get out of a six year statute, which frankly does not come up that often or, in my thirty plus years of tax work, ever.
IRS Shows Serious Meatspace Prejudice
The above observation does not, of course, say one thing or another about the current phase of the scandal. Lois Lerner or one of her fellow minions in a vast conspiracy may have exploited that environment to suppress the damning e-mail in which Ms. Lerner confessed to strangling the last passenger pigeon. Nonetheless, it may account for seemingly outdated thinking, particularly in the section of the IRS that Ms. Lerner dedicated to bringing down all that is right (or maybe Right) with the world.
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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.