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Loopholes are by definition legal.
by loloquwowndueo 11mo ago
Loopholes are by definition legal.
- twoodfin 11mo agoBribing an appraiser to get a larger deduction on a donation is cut-and-dried tax fraud. It’s not a “loophole”.
- loloquwowndueo 11mo agoCorrect. Fraud is fraud, loopholes are loopholes. One is legal, the other is not. Or put another way - a loophole in law/regulations is found, then the law/regulation gets changed to close the loophole. If it were not legal this change would not be necessary - you would just prosecute.