old and cold rule
n.— «If you plan to use the vacation home as the relinquished property, do not use it personally for at least two years, and two tax returns. The IRS has adopted what is known as the “old and cold” rule. If you engage in a transaction for the purpose of avoiding the payment of tax, and the transaction occurred more than two years ago, the IRS will generally not pursue the matter.» —“Housing Counsel: IRS Monitoring Starker Exchange” by Benny L. Kass Realty Times May 1, 2006. (source: Double-Tongued Dictionary)
Further reading
In 1916, a small-town newspaper in Pennsylvania printed a fanciful item about a local gathering with a guest list that included, among others, Miss Ella Vader, Mr. Ray Zor, and other punny names. This is part of a complete episode. Transcript of...
For German speakers, Sauregurkenzeit is that period of time in late summer when nothing much is happening, known in English as the dog days. The German term derives from sauer, “sour,” and Gurke “cucumber,” plus Zeit or “time.” This is part of a...