Section 206 provides a juicy capital-gains tax exemption for contributions of property for conservation, meaning wealthy environmentalists with extra acreage will be able to take a tax deduction for the appreciated property and have the environmental organization preserve it, adding to the value of the primary property.

WSJ: David Malpass: Nothing Is Certain Except More Debt and Taxes

The section used to be one of the capital's most luxurious suburbs, complete with beach chalets and golf clubs, boat clubs and casinos.

CNN: Liberia: Sweet land of liberty now bitter, broken

What these salesmen don't say is that there are other ways to soften or forestall a capital gains hit: installment sales, exchange funds, Section 1031 exchanges or just leaving the asset in your estate.

FORBES: The new giving game

In the case of John Ramig, however, whether his advances to his corporation represented debt or equity would mean the difference between taking an ordinary worthless debt deduction under Section 166 when the debt went bad, or be stuck with a capital loss upon liquidation in some future year.

FORBES: One Man's Tale Of Superstorm Woe And Debt Versus Equity Considerations

But a unit of insurer XL Capital, which held some of ESP's junior notes, pointed to a different section of the contract, claiming that in the event of default all note holders would continue getting interest payments before dishing out any principal to BNP Paribas.

FORBES: Magazine Article

The section, which was originally enacted to help farm cooperatives, neglects to limit how much capital or investment income such a company can have.

FORBES: U.S. tax rackets