Details Of 2010 Federal Income Taxes: Difference between revisions
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Revision as of 04:27, 22 September 2024
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Structured Entity Tax Credit - The government is attacking an inventive scheme involving state conservation tax credit. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually burnt up and a K-1 is disseminated to the partners who then go ahead and take credits on their personal pay back. The IRS is arguing that there is absolutely no legitimate business purpose for your partnership, so that the strategy fraudulent.
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