IRS Takes Aim At “Copyrighted” Trust Scheme
“Promoters of questionable tax schemes often distribute a “legal analysis” to potential victims. While these analyses might sound authoritative, they can sometimes resemble the output of ChatGPT in full hallucination mode.” – Ed Zollars
Tax Court Judge Suggests Glue Factory For Retired Thoroughbred Horses
But most horse owners have a more economically slit-eyed view toward things, and if they see a horse that’s not capable of racing and they can’t sell it, they’ll sell it to somebody who will get it up to Canada where there are slaughter houses and glue factories and the like.”
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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.