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:
[In Estate of Rogers v. Commissioner, T.C. Memo. 1970-192, we] accepted that “a taxpayer may go beyond what appears on the face of an agreement, just as the Commissioner may do so.” But, we observed, “the so-called ‘two-way street’ seems to run downhill for the Commissioner and uphill for the taxpayer.” [citations omitted]
Complex Media, Inc. v. Commr., T.C. Memo 2021-14.