Another Northwestern Mutual Life Insurance Tax Disaster
One thing that you should do is have your life insurance policy serviced by a qualified agent, who won’t let you get blindsided like this. It is probably not that great an idea to use a policy that you want to stay in force as a liquidity source. If you are upside down maybe, there is a way to keep the policy alive. You can’t tell from the case what the face of the policy and the spread between the dividend and borrowing rate were.
Tiny Church Intervenes In Freedom From Religion Foundation’s Most Pointless Case
Here is the deal. Imagine you are John Koskinen, IRS Commissioner. You are supposed to collect over two trillion dollars. You’ve got 90,000 people working for you, but only about 20,000 are actually involved in enforcement – revenue agents, revenue officers, etc. They are mostly trained as accountants. How much will you bring in from having some accountants listening to sermons to see how political they are?
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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.