List your most hated Tax provision Forum

Geist13 · Post by **Geist13** » Fri Dec 16, 2011 1:57 pm

ITT we list our least favorite IRC provisions and just complain about tax generally:

263A. Jesus christ. Not only is it long, poorly written, and confusing as FUCK, but there are 2 263-As. 263(a) and 263A. My class notes are all fucked up because I poorly differentiated between them (my professor just said 263-a without tell us which he was talking about and we covered them in the same class).

I hate this fucking class. I've had two cups of coffee today, and have fallen asleep three times trying to outline it.

kaiser · Post by **kaiser** » Fri Dec 16, 2011 1:58 pm

I ceremonially burned my copy of the Code last night to keep me warm as I shivered from the though of how poorly my tax exam went.

Ludo! · Post by **Ludo!** » Fri Dec 16, 2011 2:02 pm

I wish I would've burned my code but it was worth too much money. I sold it on Amazon a few days before the exam and shipped it out right after. I also have no clue what 263 is. I'm getting an F on that exam.

maf70 · Post by **maf70** » Fri Dec 16, 2011 2:04 pm

My tax class didnt go over 263.

ToTransferOrNot · Post by **ToTransferOrNot** » Fri Dec 16, 2011 2:06 pm

I have never met anyone who didn't feel like they failed every tax final they took.

I felt so strongly that I had failed Corporate Tax 1 that I didn't take Corporate Tax 2.

Turned out not to be the case, and then I get pwned in the class that I took instead of Corporate Tax 2.

Also, 263 is pretty terrible.

swc65 · Post by **swc65** » Fri Dec 16, 2011 2:12 pm

The part where the take my money.

PirateCap'n · Post by **PirateCap'n** » Fri Dec 16, 2011 2:14 pm

§170 and all its subsections. Not necessarily because it's so hard, but mainly because it was on my exam (and it killed me).

Danteshek · Post by **Danteshek** » Fri Dec 16, 2011 2:26 pm

Big Shrimpin · Post by **Big Shrimpin** » Fri Dec 16, 2011 5:11 pm

All of them.

Renzo · Post by **Renzo** » Fri Dec 16, 2011 5:16 pm

Any provision that describes a formula as "X amount over Y amount" and expects me to subtract, not divide. You'd think at least one of the fuckers who wrote this monstrosity would know the difference.

ben4847 · Post by **ben4847** » Fri Dec 16, 2011 5:19 pm

Income tax. It's the worst. I make stuff, trade it for food, and then my neighbors come take part of it.

nealric · Post by **nealric** » Fri Dec 16, 2011 8:43 pm

Wait until you guys get past baby tax. It gets much more fun.

Take a gander at Section 367 sometime.

Renzo · Post by **Renzo** » Fri Dec 16, 2011 9:00 pm

nealric wrote:Wait until you guys get past baby tax. It gets much more fun.

Take a gander at Section 367 sometime.

Do they ever figure out that a number over another number is division? Because if not, fuck it all.

nealric · Post by **nealric** » Sat Dec 17, 2011 12:55 pm

Protip: the regs often have proper formulas written out to explain the Code.

Antilles Haven · Post by **Antilles Haven** » Sat Dec 17, 2011 9:26 pm

954(c)(3)(B) because just check the box bro and 902(b)(2) because tiers are for bitches.

philly_law · Post by **philly_law** » Sat Dec 17, 2011 9:29 pm

I took my tax final on Wednesday and I can't seem to remember any of them. It's already a dark, distant memory.

Antilles Haven · Post by **Antilles Haven** » Sat Dec 17, 2011 9:44 pm

nealric wrote:Protip: the regs often have proper formulas written out to explain the Code.

Regs are also the worst thing ever to try and cite for an exam. So much time wasted saying "under 1.954-3(a)(4)(i),(ii)..."

Geist13 · Post by **Geist13** » Sun Dec 18, 2011 3:48 am

New favorite: 1212(b).

goosey · Post by **goosey** » Sun Dec 18, 2011 3:02 pm

everything after "gross income means all income from whatever source derived"

berkeleykel06 · Post by **berkeleykel06** » Sun Dec 18, 2011 3:17 pm

I can't remember a single provision of Fed Tax and I took the class last semester.
Left more than half the multiple choice blank (penalty for wrong guesses), spent a good 25-30 minutes straight reading the horn book DURING THE TEST to even be able to answer the questions I did.
Got a B+.

Yay for curves.

Geist13 · Post by **Geist13** » Sun Dec 18, 2011 4:04 pm

berkeleykel06 wrote:I can't remember a single provision of Fed Tax and I took the class last semester.
Left more than half the multiple choice blank (penalty for wrong guesses), spent a good 25-30 minutes straight reading the horn book DURING THE TEST to even be able to answer the questions I did.
Got a B+.

Yay for curves.

well I got 80% of the questions on midterm multiple choice right and was below median. Yay for landing in the section with, on my count, 10 law review students!

ben4847 · Post by **ben4847** » Mon Jun 18, 2012 12:14 am

26 USC § 1 - Tax imposed

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