Government Tax Deed Sales: Difference between revisions
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Revision as of 22:51, 10 November 2024
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What everyone knows as your 'income' tax has few of tax brackets each having its own tax rate from 10% to 35% (2009). These rates are used to your taxable income which is income far more your 'tax free' funds.
Structured Entity Tax Credit - The irs is attacking an inventive scheme involving state conservation tax attributes. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually dried-up and a K-1 is disseminated to the partners who then take the credits for their personal refund. The IRS is arguing that there isn't legitimate business purpose for the partnership, which makes the strategy fraudulent.
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