This man was torn from his family and imprisoned for trying to keep the money he earned. |
For future reference, Mr. Snipes, if you want to avoid the income tax, take a page from the Louis B. Mayer tax avoidance playbook:
Section 329 of the Revenue Act of 1951 applied to one person in the country: Louis B. Mayer, head of Metro-Goldwyn-Mayer studios (MGM). Mayer is never mentioned by name. His lawyer, Ellsworth Alvord, simply described a unique situation of Mayer's, and anyone who could show that the description pertained to them would receive the benefits of Section 329. Alvord had close connections with the Senate Finance Committee and used these connections to have Section 329 inserted into the Revenue Act of 1951, saving Mayer nearly $2 million in federal income tax. (What would that amount to in today's money?)
I am connected. Hear me roar. |
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