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Famous Tax Quote #14 - Mere Formalisms

2009-11-16

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Famous Tax Quotes includes quotations from court opinions with language that is colorful or that concisely states an important tax principle. Readers are encouraged to send suggestions for upcoming Famous Tax Quotes.

Continuing our series on Famous Tax Quotes, today's Famous Tax Quote is:

To permit the true nature of a transaction to be disguised by mere formalisms, which exist solely to alter tax liabilities, would seriously impair the effective administration of the tax policies of Congress.

Commissioner v. Court Holding Co., 324 U.S. 331, 334 (1945)

Andrew Mitchel is an international tax attorney who advises businesses and individuals with cross-border activities.

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