Tax,
Administrative/Regulatory
Jan. 8, 2019
IRS can impose 100 percent penalty on employment taxes
Whether you are Donald Trump or just an ordinary Joe, everyone likes to save money. And no one likes to pay more in taxes than they have to. But sometimes, you have to pay up. Perhaps you can think of it as paying retail, even though you try to avoid that.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
If you ever took a tax class -- or even if you didn't -- you probably know the old quote from Judge Learned Hand: "Any one may so arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes." See Helvering v. Gregory, 69 F.2d 809, 810 (2d Cir. 1934), aff'd, 293 U.S. 465 (1935)...
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