Of course you can, when new property appraisals are issued there are LOTS of disputes filed in court. Go get a mortgage and the bank will tell you what they will lend you on it. They will tell you how they will lend you on a car. And valuations differ. And OF COURSE, any reasonable person wants to pay the least tax but in the end the government is who determines what is the value and the tax. And when you get to such HUGE valuations such as a billion dollar business or billion dollar estate those things are routinely determined in a court. It's not that it is criminal thing it is a dispute about the function of the tax and how it is applied. It's one of the fallacies of the wealth tax. Who determines the value of all the wealthy and how. And when those valuations get contested it can take YEARS to adjudicate over the dispute. Courts are filled with property and estate tax disputes.
The IRS doesn't care about the value of my property, my property is not taxed by the IRS. Can you point me to the form where you report to the IRS the value of real property? My property is appraised for tax purposes at $152K. If I went to the bank to get a loan I would write in the approximate value $200K. Have I violated a law?
do you run a business renting out your property and did you inherit billions in property - the numbers get bigger in those cases
I have and the IRS is concerned with the profits and losses not the value of the building you are renting out.
I am reminded of when it was discovered that Trump was keeping one set of books for investors and one for taxes. Did he go to jail for that? I don't think so.
Books aren't books aren't books which books are you talking about which books for the IRS that include the value of all the assets?
So, what about this: limit the amount a student can get to the amount he can be expected to by able to pay back, with interest, within ten years. The amount could be calculated based on the employment prospects post graduation.
I have been watching the case and I am not a lawyer you have been claiming he violated the law here but when asked how you say oh I'm not a lawyer so I don't have to answer. The IRS taxes businesses on the income, the net income before taxes they earn. They don't do property taxes. They will ask for the value of capital equipment you are going to depreciate but once that depreciation is over they don't care what the value is. Have you ever taken out a mortgage or auto loan? Have you ever run a business?
How about the schools loan the money or underwrite them and if the student isn't success, the education they received did not produce the income to pay for they can suffer the consequences of the non-repayment.
Why do they charge so much then? Which ones are you talking about and why should working taxpayers pay for it?
Which bank has filed a lawsuit? They are the ones who would dispute it and the "wronged party"? It's your claim but when pressed you have nothing to back it up.
I don’d think the taxpayers should pay for it, either. The honest answer to “why do they charge so much?” is because they can get away with it. Kids can go to the financial aid office sign a couple of papers and get a check which they give to the school. Do that semester after semester and the total adds up.