Cocaine Ponzi Schemes And Tax Prep – Not A Good Mix
Originally published on Forbes.com June 18th, 2014 Here's a tip if you are seeking to get started as a tax preparer. Don't go to work for somebody who also distributes...
Paul Reddam’s KPMG Tax Shelter Stunk In More Ways Than One
Tanina Rostain and Milton Regan in Confidence Games – Lawyers, Accountants, and the Tax Shelter Industry explained the ugly chapter in tax history that this deal is a small part of. The key to these transactions succeeding was the IRS never finding them. And the IRS probably would not have found most of them if KPMG and other firms had not been forced to turn over lists. Congress has been steadily eroding IRS capacity.
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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.