Bank Cannot Issue 1099-C And Subsequently Try To Collect
If this ruling stands, financial institutions will be encouraged to delay having an identifiable event as long as there is the dimmest hope that something might be collected. 1099-C when finally issued will be a blast from the past to the recipient, who if they are diligent will probably be able to come up with an argument that the debt expired in a much earlier year.
Hipster Tax Has Historical Precedent
Alpha children wear grey. They work much harder than we do, because they’re so frightfully clever. I’m really awfully glad I’m a Beta, because I don’t work so hard. And then we are much better than the Gammas and Deltas. Gammas are stupid. They all wear green, and Delta children wear khaki. Oh no, I don’t want to play with Delta children. And Epsilons are still worse.
Follow Me
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.