Stone Mining Company’s Donation Deduction For Land Given To Town Disallowed
The other problem was with the contemporaneous written acknowledgment. Even though there was an allusion to the litigation there was not an explicit enough statement of that being something that was received. Failure to have a good contemporaneous written acknowledgement means no deduction.
No Authority For How To Compute Housing Investment Exit Taxes
The parties have not pointed to any regulations, IRS guidance, or case law for their interpretation of this language, and I have found none.
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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.