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 deals with a domestic corporation which, in a “sixty-day letter” of protest to a deficiency redetermination, asked that foreign taxes be allowed as a credit rather than as a deduction. A redetermination of tax liability by [the IRS] is, for practical purposes, an amendment of the... Read more →