In Accardo v. Commissioner, the taxpayer, Athony Accardo, had - TopicsExpress



          

In Accardo v. Commissioner, the taxpayer, Athony Accardo, had successfully defended himself in a criminal prosecution for violation of the Racketeer Influenced and Corrupt Organizations Act (RICO) . . . Because of the acquittal he was not in the trade or business of racketeering, so his legal expenses could not be trade or business expenses [deductible under section 162]. Thus, the guilty criminal [co]defendants [who were convicted of racketeering] were treated better by the tax system than innocent defendants. -Income tax textbook. The income tax is insane.
Posted on: Wed, 23 Oct 2013 13:39:25 +0000

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