Most Recent Posts
We Didn’t Start The Fire – 1970-The Xavier Class Lamented By Antonin Scalia – Part IV
My memoir of the final days of Xavier High School as, in the words of Antonin Scalia, "a thoroughly military academy" has expanded a bit thanks to one of my classmates...
Humanity Of Warfare Is Not An Oxymoron
As I often note sometimes the story behind the story on tax decisions I write about is much more interesting than the underlying than the tax issues. That was...
IRS Turns To Crowdsourcing To Improve Systems
There will be prizes for Overall Design $10,000 and $5,000 – Best Taxpayer Usefulness $2,000 and $1,000 – and -Best Financial Capability $2,000 and $1,000-. It says the awards “may be subject to federal income taxes”, but if you are smart enough to redesign the whole system, maybe you will be smart enough to figure out a way around that.
No Diamonds On Our Shoulders – 1970-The Xavier Class Lamented By Antonin Scalia – Part V
Whatever Regimental glory I won when I graduated in 1953 is unrecorded. The one item I can point to is that I rose to the rank of Lt. Colonel, commanding officer of...
The Final Revenge Of Corporal Burns – 1970-The Xavier Class Lamented By Antonin Scalia – Part III
You'll never outrank me, Tom. Cadet Staff Sergeant Peter Reilly to Cadet Corporal Thomas Burns sometime in 1969. Famous last words. Most young men - mercifully, they...
Estate Denied Discounts For Marketable Security Family Limited Partnership
The Holliday decision does not make me despair when it comes to marketable security family limited partnerships, but advisors should really push for strong execution.I mean if you are saving near a million or more in transfer taxes, spring for a couple of thousand to get a good general ledger. Have a couple of meetings. And make sure you read that partnership agreement and do what it says.
Time For Sergeants – 1970 – The Xavier Class Lamented By Antonin Scalia- Part II –
The mission of the infantry is to close with the enemy by means of fire and maneuver to defeat or capture him, or to repel his assault by fire, close combat, and...
Sixth Circuit Looking To Protect Taxpayers From IRS Not IRS From Taxpayers
The issues here remind me a good bit of the litigation Cause of Action ran against TIGTA looking for more information. They wanted more details on TIGTA’s investigation of statements by Austan Goolsbee about Koch Industries that hinted that he might have access to information that was protected. TIGTA indicated that revealing more details would, in itself, be an improper disclosure.
IRS Bounty Hunters Should Not Waste Time On FBAR Penalties
The Tax Court’s opinion unfortunately will have a chilling impact on whistleblowers coming forward – especially whistleblowers blowing the whistle on illegal offshore accounts held by millionaires and billionaires. Individuals need to have confidence that when they come forward that they will be awarded if the whistleblower’s information is used by the government and results in collected proceeds.
The good news though is that the Court found that the policy arguments put forward by the National Whistleblower Center in its amicus brief to be well-grounded and reasoned – and the Tax Court stated that Congress could fix the problem. Congress needs to accept the Tax Court’s invitation and immediately clarify the statute that whistleblowers who blow the whistle on offshore tax cheats and other big time tax criminals are entitled to an award.
Becoming Part Of The Regiment – 1970 – The Xavier Class Lamented By Antonin Scalia – Part I
But as you know, the tradtion of Xavier as a thoroughly military academy did not survive the antimilitary sentiment of the Vietnam War. I lamented when the school...