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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (60918)	8/16/2004 6:49:28 PM
From: Lane3	Read Replies (1) \| Respond to of 793800

tax loopholes are not unlawful they are the law. Sure, most people would agree with that. But what about using the Endangered Species Act as a tool to delay development? That's the law, too. What about taking your three purple hearts and going home? That's the law, too. Same with delaying your resignation as governor of NJ, as CB said. Is it OK to use every legal angle? Is it required to use every angle? Or is there some other criterion?

To: John Carragher who wrote (60918)	8/16/2004 7:20:07 PM
From: Ilaine	Read Replies (1) \| Respond to of 793800

I think by "tax loopholes" kholt meant the grey areas, the ones that some won't take because they just don't want the hassle or the risk. If a statute has grey areas, you can always find an accountant who will interpret it in a way that is helpful to you, but a really good accountant should tell you that the matter remains unsettled. If you are really bold, you can go with your interpretation even when the IRS says you're wrong, and litigate it, and maybe even win. But tax lawyers have a saying, "little pigs get fed, big pigs get stuck." The tax courts have ways of dealing with greedy tax dodgers that are not pretty. I am not a tax lawyer, and am very reluctant to opine about taxes unless the issue is very clear cut.