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However, if you recognize capital losses, there are likely to be undesirable nontax consequences.
FORBES: Don't Rush To Recognize Capital Gains Or Losses
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That caused concern about the dissemination of taxpayer information for nontax purposes.
FORBES: IRS, Police Consider Sharing Info as Tax Fraud Increases
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Mr. Paschall did not attempt to provide a nontax business, financial, or investment purpose for what he did, and this Court cannot ascertain one.
FORBES: No Time Limit on Excise Tax on Abusive Roth IRA
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Mr. Young, who has won three big nontax whistleblower cases, wouldn't disclose his client's name or firm, but did say the person is retired.
WSJ: Taxes: How To Turn In Your Neighbor to the IRS
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Some tax planning--for example, using a family limited partnership to reduce the taxable value of gifts--holds up best when it's done for nontax reasons, too.
FORBES: Protect Your Assets
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Heartened by the success of a whistleblower program for nontax issues such as government contracts, Congress overhauled the special tax provisions on whistleblowers and set up the IRS's large-award program.
WSJ: Taxes: How To Turn In Your Neighbor to the IRS
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Under the old law expatriates could apply to the Internal Revenue Service for a ruling confirming they had left the U.S. for nontax reasons and were therefore exempt from the ten-year levy.
FORBES: Congress makes another grab at expats' money.