IRS Shouldn’t Twist Regs to Prevent Inversions, Practitioner Says

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.”