Court Of Claims Cuts No Slack On Filing Deadline
You have two years from the time the IRS disallows your claim. I have a hard time believing that someone could blow that deadline, but I also have a hard time figuring out why people who are paid millions of dollars to play basketball ever miss foul shots.
Toxic Combination Day Trading And Failure To File A Tax Return
Ultimately, we have a failure by Youngquist to maintain his Protrade records and a failure to file a timely tax return. This 1996 tax liability is being litigated in 2013. “It is not the task of this or any court to restructure a taxpayer’s dealings, in lieu of his facing a prescribed burden of proof, in order justify his entitlement to some tax benefit.” Better Beverages, Inc. v. U.S., 619 F.2d 424, 430 (1980). “hen a taxpayer has failed to arrange his affairs so as to minimize his taxes, he cannot expect the court to do it for him nunc pro tunc.”
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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.