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International Tax Blog - New and Interesting International Tax Issues


Famous Tax Quotes - No Rational Person . . .

2020-07-29

Continuing our series on Famous Tax Quotes (quotes from court opinions and rulings with language that is colorful or that concisely states an important tax principle) today's tax quote is:

[N]o rational person would incur indebtedness of $41.5 million to acquire stock that he already owned free and clear. [4th Circuit, quoting the Tax Court]

Estate of Kechijian v. Commr., 125 AFTR 2d 2020-2579

Tags: Other - Famous Tax Quotes