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:
* * * Povolny treated legally separate corporations as one big wallet. Taking money from one corporation and routing it to another will almost always trigger bad tax consequences unless done thoughtfully.
Povolny Grp., Inc. v. Commr., T.C. Memo 2018-37