Duke Energy’s Billion Dollar Distribution May Be At Root Of Tax Court’s Crescent Holding Decision
Even though I would be hanging my head in shame, if I had been involved in a mess like that, it is actually not all that surprising. Particularly in the partnership area, there is a lack of communication and understanding among the principals, the planners who devise the schemes, the attorneys who draft the agreements, and the preparers of the returns. Mr. Fields’ role as a partner was probably critical to the larger scheme, but apparently, nobody explained it to him.
Do We Need A Clergy Tax Simplification Act Of 2014?
It is hard to see the public policy rationale for giving better tax treatment to people who help the poor because God tells them to than people who help the poor because they believe it is the right thing to do.
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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.