The tax planning community is up in arms about the ability to patent a tax idea.
Now, if someone decides to do some innovative planning, they have to be concerned they they are infringing upon someone else's patent.
Its really mind boggling that someone can get a patent for interpreting and applying the code, but the patent office is currently allowing it.
Well, the White House, via the Office of Management and the Budget decided to finally do something about it. On 9/6 they issued the following profound statement,
"The administration understands the concerns surrounding patent protection for tax planning methods and will work with Congress to address those concerns,"
Huh?
What exactly did they say? Whoever thought up that statement needs to be promoted to chief speechwriter.
