Why Restrict Be Your Own Tax Preparer: Difference between revisions
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Latest revision as of 23:52, 21 September 2024
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Structured Entity Tax Credit - The government is attacking an inventive scheme involving state conservation tax loans. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually depleted and a K-1 is disseminated to the partners who then consider the credits on his or her personal yield. The IRS is arguing that you cannot find any legitimate business purpose transfer pricing for that partnership, so that the strategy fraudulent.
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