The following is an excerpt from the ABA Journal article “Tax Law Surprises” authored by Sam Braunstein. It was published in November 2000.
We all like surprises, don’t we? Well, may be on birthdays or when we buy that lottery ticket—but when it comes to taxes, surprises are no fun.
The reason is simple: In tax law, surprises mean unforeseen results, which in turn usually mean that more taxes were paid than necessary or that the opportunity to save on taxes was missed. Either way, it’s not a good outcome.