tag:blogger.com,1999:blog-1519969502186924526.post1323009262330501212..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: Crossing the Line in Tax Planning (4/22/14)Jack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1519969502186924526.post-14390994898690893322014-04-23T17:32:35.456-05:002014-04-23T17:32:35.456-05:00Elliott,
Large corporations subject to perpetual ...Elliott,<br /><br />Large corporations subject to perpetual audits can still hide aggressive positions, just as can taxpayers subject to low audit rates. Indeed, when large corporations deliberately clothe such transactions in a blizzard of paper seeming related to their business (the underlying plane position was related to the business but the structuring in a way to hide the bank's role as lender in the guise of partner was not related to its business) with an army of in house and out house counsel contributing to the obscurity / bullshit (hence the apropos out house counsel), I suggest that that is probably even worse. These players should have known better.<br /><br />And they would have known better if they had gotten a real tax opinion rather than the best money can buy. But we have seen the opinion because GE chose not to rely upon it. One might infer that that was for good reason.<br /><br />Jack TownsendJack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-64767058567902769442014-04-23T17:18:52.724-05:002014-04-23T17:18:52.724-05:00GE is, if I am not mistaken, a corporation big eno...GE is, if I am not mistaken, a corporation big enough that it is automatically audited every year, so they weren't trying to play the audit lottery. And the characterization of the counterparty as "lender" rather than "partner" is much more of a legal conclusion than a factual representation. No one is allowed to make a materially false statement of fact to the IRS, but a taxpayer is "not bound to determine a doubtful question against himself." Jemison v. Comm'r, 45 F.2d 4, 6 (5th Cir. 1930).Elliotnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-17550643278256549082014-04-23T16:26:33.654-05:002014-04-23T16:26:33.654-05:00How is calling a lender a partner and hiding the r...How is calling a lender a partner and hiding the real facts in a morass of paper and words different that what the Morelands did?<br /><br />The only difference is that they were not sophisticated enough to do complex planning for the gambit. GE was and got caught anyway.<br /><br />Jack Townsend.Jack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-43525187957929504362014-04-23T13:57:37.048-05:002014-04-23T13:57:37.048-05:00Taxpayer Advocate has a twitter account. Search fo...Taxpayer Advocate has a twitter account. Search for YourVoiceAtIRS.<br /><br />A tweet from the twitter account on Jan 16:<br /><br />Did you know the IRS OVD imposes significant penalties on taxpayers who made honest mistakes? Learn more: http://ow.ly/sEqo4Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-3282693664505739202014-04-23T13:53:56.397-05:002014-04-23T13:53:56.397-05:00The Internal Revenue Service has paid more than $2...The Internal Revenue Service has paid more than $2.8 million in bonuses to employees with recent disciplinary problems, including $1 million to workers who owed back taxes, a government investigator said Tuesday.<br /><br />More than 2,800 workers got bonuses despite facing a disciplinary action in the previous year, including 1,150 who owed back taxes, said a report by J. Russell George, the Treasury inspector general for tax administration. The bonuses were awarded from October 2010 through December 2012.<br /><br />George's report said the bonus program doesn't violate federal regulations, but it's inconsistent with the IRS mission to enforce tax laws.<br /><br />"These awards are designed to recognize and reward IRS employees for a job well done, and that is appropriate, because the IRS should encourage good performance," George said. "However, while not prohibited, providing awards to employees who have been disciplined for failing to pay federal taxes appears to create a conflict with the IRS's charge of ensuring the integrity of the system of tax administration."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-76546069482189940622014-04-23T12:00:14.251-05:002014-04-23T12:00:14.251-05:00I see a big difference between creating false docu...I see a big difference between creating false documents to deceive the IRS, on the one hand, and engaging in an aggressive shelter which is fully disclosed to the IRS on the other.Elliotnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-77828438081172376532014-04-22T13:05:31.663-05:002014-04-22T13:05:31.663-05:00Your site is very excellent.It is very useful for ...Your site is very excellent.It is very useful for everyone .I like it very most. <br />It is very important for earning money. So earn money by using this Online. 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