Getting Gone Tax Debts In Bankruptcy: Difference between revisions
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Revision as of 21:00, 22 September 2024
Many small business proprietors start with a sole proprietorship avoid the costs of forming a corporation or LLC. This is a wise decision as statistics show that most small businesses lose cash for the first several years.
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Structured Entity Tax Credit - The internal revenue service 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 spent and a K-1 is disseminated to the partners who then go ahead and take credits at their personal revisit. The IRS is arguing that there is absolutely no legitimate business purpose for that partnership, so that the strategy fraudulent.
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