{"id":2463,"date":"2006-07-21T09:09:23","date_gmt":"2006-07-21T09:09:23","guid":{"rendered":"http:\/\/zmetro.com\/?p=2463"},"modified":"2006-07-21T09:09:23","modified_gmt":"2006-07-21T09:09:23","slug":"judge_rules_a_t","status":"publish","type":"post","link":"http:\/\/www.zmetro.com\/?p=2463","title":{"rendered":"Judge Rules a Tax Shelter in KPMG Case Is Legitimate"},"content":{"rendered":"<p><a href=\"http:\/\/www.nytimes.com\/2006\/07\/21\/business\/21shelter.html?ex=1311134400&#038;en=48a1650cb1505ebf&#038;ei=5090&#038;partner=rssuserland&#038;emc=rss\">Lynnley Browning<\/a>:<\/p>\n<blockquote><p><i>The heart of Judge Ward&rsquo;s ruling was that the I.R.S.&rsquo;s retroactive use of tougher Treasury Department rules in 2003 on liabilities like those in Blips was &ldquo;ineffective&rdquo; and &ldquo;not enforceable&rdquo; because it was retroactive. The Internal Revenue Code generally prohibits retroactive regulations. The I.R.S. said in 2000 that it would formally challenge Blips deductions claimed by taxpayers.<\/p>\n<p>Jerrold Cohen, a lawyer in Atlanta for Mr. Nix and Mr. Patterson, said yesterday that Judge Ward&rsquo;s ruling showed that &ldquo;the government isn&rsquo;t allowed to change the rules just because it doesn&rsquo;t like the result.&rdquo;<\/i><\/p><\/blockquote>\n<p>Great example of the mess that is our tax system.  The Opinion (<a href=\"http:\/\/online.wsj.com\/public\/resources\/documents\/blips.pdf\">PDF<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lynnley Browning: The heart of Judge Ward&rsquo;s ruling was that the I.R.S.&rsquo;s retroactive use of tougher Treasury Department rules in 2003 on liabilities like those in Blips was &ldquo;ineffective&rdquo; and &ldquo;not enforceable&rdquo; because it was retroactive. The Internal Revenue Code generally prohibits retroactive regulations. The I.R.S. said in 2000 that it would formally challenge Blips [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,9,17],"tags":[],"_links":{"self":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/2463"}],"collection":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2463"}],"version-history":[{"count":0,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/2463\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2463"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}