Chief Counsel Goes Easy On 1031 Debt Paydown
The effect of this arrangement is that when relinquished property is sold by the qualified intermediary, proceeds pay down a line of credit that is not exclusively used to acquire replacement property.
Interview With Student Loan Activist Alan Collinge – Fair Value In An Unfair System ?
There are serious policy considerations as well. For example: If this methodology is accepted and used by Congress in its decision making, then we’ll have a “tail wagging the dog” scenario where the private lending industry will be able to make the federal program “look” far, far more expensive by simply raising their interest rates! While this is something the private lenders like Sallie Mae clearly would like to do for a number of reasons, it threatens millions of borrowers, the federal lending system and the public interest generally.
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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.