No Deductions for Tax Planning And Controversy Costs

Tax planning and tax litigation are too profitable for the taxpayer. The tax accounting for tax planning and controversy work allows an exemption for the reduction in tax achieved by the costs and also generally allows a deduction for the costs of the work. The mismatch of the exemption of the benefit and deduction of the costs gives a negative tax or subsidy. Costs that would routinely be profitable under…
Andrews & Kurth Centennial Professor of Law, University of Texas at Austin - School of Law, USA
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