WITHHOLDING TAX UNDER THE - URA

the return isn’t taxable, but the interest payment is deductible. it’s all about substance over form ( have to look past taxpayer’s argument that it was a loan. AMT §§ 55-58. things aren’t indexed to inflation ( numbers changed on an ad hoc basis annually. currently exemption for couples is 62,550, single 42,500 ................
................