Tax
Jun. 28, 2022
Timing: the most important element in tax planning?
Beware: having a long period of time between setting up a structure and executing the strategy is no protection from an IRS challenge.
Owen Kaye
Managing Partner
KFB Law Group
12100 Wilshire Blvd #245
Los Angeles , CA 90025
Phone: (310) 207-8008
Fax: (310) 207-8708
Email: owen@kfblawgroup.com
Western State Univ College of Law
Understandably, taxpayers wish to take actions which reduce their tax liability. There are many elements that lead to success in that endeavor. For example, the structure should be firmly based on (i) the Internal Revenue Code; (ii) Internal Revenue Service Regulations, Revenue Rulings, and Revenue Procedures; and (iii) cases decided by the courts.
However, the most famous tax case involved a taxpayer who lost after strictly following the ...
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