Tax Guru-Ker$tetter Letter

Tuesday, September 17, 2002

Simon's Tax Shelter

Some of the details on the kind of controversial tax shelter PRC gubernatorial candidate Bill Simon has allegedly used have been published. Note the tone of the article; that the shelter is an illegal fraud. The truth is that it has not yet been determined to be illegal. IRS is claiming that it is fraudulent, as they like to do with almost anything that can help people hold onto their own money.

I am not defending this particular shelter, and I have no hands-on experience with it. However, it is not right to automatically take the side of the IRS in disputes such as this. Unfortunately, that is the standard template for the media. With them, IRS is always right and anyone who tries to reduce his/her taxes is an evil scum sucking pig.

I'm still waiting to hear how the IRS personnel who illegally released the protected private information about Simon's tax returns will be punished. I'm not holding my breath. Of course, if an IRS employee had released private details about the liberals' man, Gray Doofus, the feces storm calling for the head of the IRS employee would be swift and loud.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 9/17/2002 12:59:00 PM Send this post: