WASHINGTON — The IRS confirmed Monday Elon Musk's trillion-dollar net worth remains untaxed until the SpaceX Mars colony generates taxable revenue.

The loophole allows indefinite deferral, as the colony currently consists of vacant land and a flag. "Technically, you can't spend money on a planet where there are no stores," said IRS Commissioner Daniel Prentiss. "We prefer not to audit assets we cannot seize."