Overview
Peter Faber, in this bylined letter to the editor, contended that the IRS should not prevent tax inversions, noting that it is perfectly legal for a taxpayer to move businesses between states to avoid taxes if the move actually happens. “Many observers … seem to feel that there is something immoral about a taxpayer moving from one jurisdiction to another to lower its tax burden. I don’t see this,” Mr. Faber wrote. “The IRS and the Treasury should not spend their time attempting to twist existing laws and regulations out of shape to prevent a perfectly legitimate tax planning device because of political pressures.”