Champions Retreat Easement Case – Did Anybody Win?
When you consider that the IRS did not try very hard to fight on valuation and we end up with a result which appears to wipe out any gains that went to the investors, I think I feel OK about discouraging people from going into these deals.
Fake News In The Tax Arena
The authors were surprised by the number of stories that dealt with tax-exempt status. Although some of it is accounted for by the “IRS Scandal” that I call Teapartygate, they noted there was more. Finally there is what they call “old chestnuts” including tax protester theories which now spread on social media..
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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.