Continuing our series on Famous Tax Quotes (quotes from court opinions and rulings with language that is colorful or that concisely states an important tax principle) today's tax quote is:
Although the nature of an estimate is such that the estimate does not guarantee that the true value of the thing being estimated will equal that predicted in the estimate, the estimate does carry an implied assertion that its author knows facts that justify the selection of the particular value chosen as the estimate. Blind guesses are not good faith estimates.
Aloe Vera of Am. Inc. v. U.S., 2015 BL 36247 (D.C. Arizona 2015)