Horse play

I enjoyed a recent post from Professor James Maule about possible tax-related names for horses. Apparently, the 6-year old brown gelding that won the National Hunt Cup was named "Tax Ruling." Maule then brainstormed a lengthy list of possible horse names to be found in the world of tax.

Here was the best part of his post:

"Imagine the track announcer informing the crowd, 'It's Tax Shelter following Passive Activity, but here comes Treasury Regulation with Deduction Limitation. It looks like Substantial Underpayment is back in the race. Capital Expenditure has fallen behind, and Revenue Neutrality has broken down. It's Treasury Regulation, gaining on Tax Shelter, and on the inside it's Jeopardy Assessment.' Yes, imagine how the tax law could saddle the horse racing industry."