I have read that statute many times over the years. Please show somewhere within your link, or any other, that I will go to jail, or any other penalty besides a fee based on the going interest rate.
All right, I'm only replying to this thread diversion because there is an important point here. The available remedy or punishment does not determine legality. Those are two separate concepts, and it's important to keep them distinct in mind. For instance:
1. The Hatch Act specifies that government employees are not to engage in overtly partisan political activity except on their own time. Trump and his administration break this rule all the time. The Hatch Act does not, to my knowledge, provide for any meaningful remedies. That does not in any way mean that the behavior is legal.
2. Trump is destroying boats off the coast of Venezuela. The Supreme Court has said there's no criminal liability for the president as long as it's an "official act" and that would be. So the consequences to Trump will be zero. But that does not mean the activity is legal. It is illegal. It simply lacks a remedy.
3. You are taking advantage of a light remedy. Fine. If you're fine paying fees and whatever, then maybe it makes sense to do the illegal things because it's still profitable for you. That's kind of like what Ford did with the Pinto -- it was cheaper to just compensate the victims than fix the problem (that wasn't strictly speaking a question of legality so I'm only using it as an analogy).
You seem to be really vested in the activity not being illegal. I'm not sure why. You can do it. You're happy doing it. Why does it matter to you whether I give you the super stamp of approval? I'm not going to. It's very, very, very far from the most egregious tax-related behavior and thus I don't really care at all.
4. It's just important, and again I will emphasize, the lack of remedy or punishment does not determine the legality of an action. It just doesn't. I don't care how many times you've read that statute. This is a basic concept of law.