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Tax Code Date: Sent Friday, April 15, 2011 Category: None

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The U.S. Tax Code is pretty complex, but sometimes there are little nuggets of clarity that really make sense. Yesterday in my class we read from the Internal Revenue Code.

Section 708(a) of the Internal Revenue Code states: "...an existing partnership shall be considered as continuing if it is not terminated."

I guess it's just like an individual shall be considered as alive if he or she is not dead.

Received from Thomas Ellsworth.