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Can A Cost Sharing Arrangement Prevent A Tax Shelter Label?, Jeffrey M. Kadet
Can A Cost Sharing Arrangement Prevent A Tax Shelter Label?, Jeffrey M. Kadet
Articles
In connection with an ongoing effort of the government to examine certain Microsoft documents, the government on October 12, 2016, stated in a filed document that one of the transactions at issue is "unquestionably" a tax shelter for purposes of section 7525. The significance of that is in whether some written communications should be protected from IRS scrutiny by the section 7525 confidentiality privilege that may apply to tax advice between a taxpayer and tax practitioners. Under section 7525(b)(2), written communications will not qualify if they are "in connection with the promotion of the direct or indirect participation of the …
Profit-Shifting Structures: Making Ethical Judgments Objectively, Part 2, Jeffrey M. Kadet, David Koontz
Profit-Shifting Structures: Making Ethical Judgments Objectively, Part 2, Jeffrey M. Kadet, David Koontz
Articles
MNCs and their advisors have seemingly taken ethics out of the mix when considering the profit-shifting tax structures they have so prolifically and enthusiastically implemented over the past several decades. There may be a variety of reasons for this. First, U.S. tax law is a self-assessment system, meaning that in most cases taxpayers compute and pay tax without advance approval of their tax positions from the IRS. No third party technical test or propriety standard has to be passed on the front end for any tax strategy or structure. Second, direct personal benefits accrue to management and advisors from implementing …
Profit-Shifting Structures: Making Ethical Judgments Objectively, Part 1, Jeffrey M. Kadet, David Koontz
Profit-Shifting Structures: Making Ethical Judgments Objectively, Part 1, Jeffrey M. Kadet, David Koontz
Articles
MNCs and their advisors have seemingly taken ethics out of the mix when considering the profit-shifting tax structures they have so prolifically and enthusiastically implemented over the past several decades. There may be a variety of reasons for this. First, U.S. tax law is a self-assessment system, meaning that in most cases taxpayers compute and pay tax without advance approval of their tax positions from the IRS. No third party technical test or propriety standard has to be passed on the front end for any tax strategy or structure. Second, direct personal benefits accrue to management and advisors from implementing …