[RushingWater]

As Heritage Foundation blog translates:

Codification of the “Economic Substance Doctrine” (Page 349): Empowers the IRS to disallow a perfectly legal tax deduction or other tax relief merely because the IRS deems that the motive of the taxpayer was not primarily business-related.

[RushingWater]

Source for the bill:

HR 3962

[concerned about politics]

IRS deems that the motive of the taxpayer

Oh great. That means Oboma gets to pick a mind reading Czar. Will the madness never end?

[Waryone]

Well illegal tax write offs become perfectly legal if a democrat uses them. See Charles Rangel.

[OneWingedShark]

>Codification of the “Economic Substance Doctrine” (Page 349): Empowers the IRS to disallow a perfectly legal tax deduction or other tax relief merely because the IRS deems that the motive of the taxpayer was not primarily business-related.

Sounds almost like a bill of attainder to me... but at the very least it is immoral and, honestly, should cause tax-collectors (IRS agents) to be shot and/or tar-and-feathered.