Joint Returns Need Warning Labels
Theresa Karam was denied innocent spouse status by the Tax Court and has lost on appeal to the Sixth Circuit. There is a very interesting twist to her case. Her...
IRS Position On Wandry Decision Makes 2012 Gifting More Difficult
The IRS has thrown a significant road block into planning for large 2012 gifts. Our transfer tax system , gift and estate taxes, is unified. There is a credit...
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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.