Tax Roundup, 6/7/2012: tax advice in the wrong places; the Daugerdas do-over; DOMA doomed?

June 7th, 2012 by Joe Kristan

Best advice?  Don’t take advice from the wrong place (Robert D. Flach):

 I have given it much thought and decided the best piece of tax advice I can give anyone is DO NOT ACCEPT TAX ADVICE FROM ANYONE OTHER THAN A PROFESSIONAL TAX PREPARER.

I usually continue my answer by saying “don’t listen to your brother-in-law, your cousin Manny, your auto mechanic, your neighbor or co-workers, or a guy you ride to work with on the train”.
 
But I also mean don’t listen to a broker, banker, insurance salesman, or other “financial professional”.
 
Some of the most awkward conference calls are with non-tax financial people who have advised clients to do things that don’t work.
 

DOMA Ruled Unconstitutional (Again) in an Estate Tax Case  (Jason Dinesen)

Maybe it should get out of profession-creating and jaywalker-shooting so it can do its job. Overseer: IRS Could Face ‘Serious Problems’ (Via TaxBreak)

Kay Bell: Film tax incentives sometimes lead to extra state costs for criminal prosecution.  Plus bonus history of drive-ins!

Paul Neiffer: Present is Better Than Future!  Present interests in property for gift tax purposes, that is.

TaxDood: Another Former Madoff Employee Pleads Guilty.  A Madoff employee cheating on taxes?  Hard to believe, I know.

Dan Meyer: USCoC: US Corporate Income Tax Rate is World’s Highest

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