Why Since It s Be The Tax Preparer: Difference between revisions

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Latest revision as of 02:10, 11 November 2024

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Structured Entity Tax Credit - The irs is attacking an inventive scheme involving state conservation tax 'tokens'. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually burned up and a K-1 is issued to the partners who then go ahead and take credits on their personal recurrence. The IRS is arguing that you cannot find any legitimate business purpose for your partnership, can make the strategy fraudulent.

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