NODE b9152bb5Re: Tax silliness (fwd)
Jim Choate <ravage@EINSTEIN.ssz.com>Wed, 9 Sep 1998 10:27:35 +0800
Forwarded message:
> Date: Tue, 8 Sep 1998 19:04:02 -0700
> From: Tim May <tcmay@got.net>
> Subject: Re: Tax silliness
> not issued a royal decree absolving the perpetrator of taxes, they could
> have collected taxes on the guy who got the ball and then taxes on the guy
> who had the ball given to him. Through the miracle of multiple taxation,
> the IRS gets it all....)
That isn't accurate. The tax was a 'gift tax' and the ONLY person required
to pay tax on it is the person GIVING the gift.
Had you actualy read the announcement by the IRS it states very clearly that
the reciever is NOT responsible for any taxes.
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NODE 6f8c36d4Re: Tax silliness (fwd)
Bill Stewart <bill.stewart@pobox.com>Wed, 9 Sep 1998 16:10:17 +0800
>> not issued a royal decree absolving the perpetrator of taxes, they could
>> have collected taxes on the guy who got the ball and then taxes on the guy
>> who had the ball given to him. Through the miracle of multiple taxation,
>> the IRS gets it all....)
Of course, the guy who has the ball can argue, if he chooses to return it,
that it doesn't belong to him, and he's returning it to its owner,
the guy who made it worth $250K. The IRS would have a hard time arguing
some legally-defined version of "finders keepers", since it was obvious
at any point whose ball it might be.
(Then there's the question of whether the ball really belongs to the
ballpark or one or the other team, and since most professional ballparks are
quasi-governmentally owned, the local government may want a large cut...)
Thanks!
Bill
Bill Stewart, bill.stewart@pobox.com
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