Wednesday, April 13, 2011

MasTTTers in TTTaxation

A lawyer who represents herself has a fool for a client. Actually, I think we just have a fool, period. The short story is husband cashes out a life insurance policy, doesn't report the substantial gain, wife litigates the matter, and tax court agrees with the IRS that it's taxable. The money shot is here:
And, finally, the Browns’ experience, knowledge, and education weigh against them: both are licensed attorneys, and one has a master of laws degree (LL.M.) in taxation.
I couldn't find where Ms. Brown got her LLM, but her JD is from a solid school. Another blogger described it as "The perils of too much education."

Opinion is here:

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