Book contents
- Untaxed
- Untaxed
- Copyright page
- Dedication
- Contents
- Acknowledgments
- Introduction
- 1 Tax Noncompliance at the Top
- 2 How the Tax System Addresses Noncompliance
- 3 Means-Adjusted Tax Compliance
- 4 When Are Means Adjustments Fair and Efficient?
- 5 From Theory to Legal Design
- 6 Tax Penalties
- 7 Tax Advice
- 8 The Statute of Limitations
- 9 Tax Information Reporting
- 10 Closing the Tax Information Gap
- Conclusion
- Index
7 - Tax Advice
Published online by Cambridge University Press: 22 November 2024
Book contents
- Untaxed
- Untaxed
- Copyright page
- Dedication
- Contents
- Acknowledgments
- Introduction
- 1 Tax Noncompliance at the Top
- 2 How the Tax System Addresses Noncompliance
- 3 Means-Adjusted Tax Compliance
- 4 When Are Means Adjustments Fair and Efficient?
- 5 From Theory to Legal Design
- 6 Tax Penalties
- 7 Tax Advice
- 8 The Statute of Limitations
- 9 Tax Information Reporting
- 10 Closing the Tax Information Gap
- Conclusion
- Index
Summary
This chapter addresses the role of tax advice in encouraging aggressive and abusive tax planning by high-end taxpayers. It begins with a discussion of the different roles of tax advice, one of which is its use as a form of tax penalty insurance. The chapter then shows how the rich benefit disproportionately from the ability to avoid penalties through tax advice. After describing these effects, we offer a proposal for incorporating means adjustments into the tax penalty defense rules, focusing specifically on tax advice, and we respond to potential objections and concerns.
Keywords
- Type
- Chapter
- Information
- UntaxedThe Rich, the IRS, and a New Approach to Tax Compliance, pp. 161 - 182Publisher: Cambridge University PressPrint publication year: 2024