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IRS says ‘tax avoidance’ at heart
of Solyndra bankruptcy plan

Washington Times, by Jim McElhatton

Original Article

Posted By:Photoonist, 10/11/2012 12:18:57 AM

The Internal Revenue Service urged a bankruptcy judge to reject solar panel maker Solyndra LLC’s bankruptcy plan Wednesday, saying it amounts to little more than an avenue for owners of an empty corporate shell to avoid paying taxes. “The undeniable conclusion is that tax benefits drive this plan,” attorneys for the IRS wrote in a bankruptcy pleading. (Snip) What’s more, government attorneys said that as far back as 2010, Solyndra owners had “planned meticulously” to be able to use Solyndra’s net operating losses to offset future tax liabilities.

Comments:
How about that? Solyndra has been operating like a Chicago firm associated with the crooked Democrats there all along. Do we even know where all the money went yet? And why is the IRS nailing them? Because they got caught or is there leverage going on to keep somebody silent?

      


Post Reply  

Reply 1 - Posted by: Blackeagle, 10/11/2012 1:36:12 AM     (No. 8924714)

Maybe the IRS knows that there is going to be a boss in town come January.

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Reply 2 - Posted by: asu86pe, 10/11/2012 2:09:57 AM     (No. 8924735)

Graduates of the Geithner College of Business

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Reply 3 - Posted by: country boy, 10/11/2012 3:42:56 AM     (No. 8924766)

The Dems make their money the old fashioned way. They steal it.

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Reply 4 - Posted by: PLPointer67, 10/11/2012 3:54:33 AM     (No. 8924770)

Why does this NOT surprise me?


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Reply 5 - Posted by: ladychatalie, 10/11/2012 4:24:39 AM     (No. 8924778)

Tax avoidance has been legal so far. One example is adding more to one's IRA at the beginning of a year (if that's still allowed) to reduce the previous year's tax burden a little bit. It is tax evasion that's a crime.

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Reply 6 - Posted by: pineledger, 10/11/2012 6:23:41 AM     (No. 8924833)

IRAs are not tax-avoidance vehicles.

The government is playing gotcha with conventional IRAs. You may lessen your tax liability but eventually you will pay tax on that money, and the way things are going, it will be at a higher rate than it would have been if you had paid it in the first place.

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Reply 7 - Posted by: Trigger2, 10/11/2012 6:30:14 AM     (No. 8924843)

Who's this IRS guy? He's taking a huge risk going against the WH. Maybe I should be watching for stories about how he 'committed suicide'.

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Reply 8 - Posted by: ROLFnader, 10/11/2012 6:50:01 AM     (No. 8924869)

As fate would have it, this article is positioned right next to the LA Times' diatribe on why folks such as Warren Buffet would 'invest' in solar and wind energy.

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