Posted by taxguru on July 24, 2012
Romney donor bashed by Obama campaign now target of two federal audits – Anyone who thinks this is a coincidence is woefully naive. The 0Bambi regime is just as willing to use the power of the Federal government to attack their enemies as Nixon and Clinton were.
Pair inherits $65M sculpture, but can’t sell it to pay $29M tax bill – The kind of idiotic Catch 22 that the grave robbing vultures in the IRS love. However, if I were handling this case, I would make the case that the true market value of the sculpture is zero and thus not subject to estate tax. If that argument didn’t fly, I would advise donating the sculpture to a museum and deducting it from the taxable estate.
IRS sizes up political groups’ tax-exempt status – What are the odds that those groups supporting the 0baMao regime will be acceptable to IRS and those opposing it will get into trouble? If there is a safer bet, I can’t think of it.
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