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Letter from America

Teresa B Hughes Attorney-Advisor Associate Chief Counsel (International) IRS continues our series from the IRS on US matters which concern the UK. Edited by Donald L Korb Chief Counsel IRS
On 7 February 2008 we entered the year of the Rat on the Chinese calendar. According to legend the Rat is first on the Chinese zodiac calendar because it won a race of twelve animals. Legend also notes that the Rat won by riding on the back of the Ox until it reached the finish line where it jumped in front of the Ox to cross first. Whatever else one may say about the Rat the Rat was certainly clever. As tax administrators we are continually in a race with taxpayers and with effective dates for new legislation. Given...
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