Archive for March 2005
The long good-bye
Forbes 175:6 (28 Mar 2005) 92
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New law effective 4 June 2004 closes a loophole that had allowed wealthy individuals to get an IRS “ruling confirming they had left the U.S. for nontax reasons.”
“Half the 270 people who applied between 1997 and July 2002 got favorable rulings and only 11 got unfavorable ones. The rest got “neutral” rulings, which allowed them to proceed as if they didn’t owe the tax.”