No Fans Of Sister Wives At The IRS ?
These beliefs and practices include polygamy or plurality of wives. You stated that you “…have a religious belief known as ‘Celestial Marriage’ which includes a plurality of wives.” You describe “Celestial Marriage” as a private religious relationship between consenting parties of legal age which is not recognized as a marriage by state authorities.
Carried Interest Debate Heats Up Without Much Light
If, however, the Administration really thinks venture capitalists and the like should not be getting capital gains treatment, there may be a fix that does not require another three thousand words in the Code and the cooperation of Congress. Just have the IRS rule that operating investment pools as partnerships so that managers can receive their compensation in the form of a share of the partnership’s capital gain is not consistent with the intent of Subchapter K. Those arrangements could be operated as co-ownerships that pay a management company incentive compensation.
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.