The IRS Is Coming For Tax Shelters
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The IRS is cracking down on certain Tax Shelters at an alarming rate. This article will let you know which arrangements are abusive and how to avoid them. If you are currently in an abusive tax shelter, I can help you dissolve it and recover all of your money.
Contact me for more information.
Wallachinc@gmail.com
Micro-captive insurance arrangements: A micro-captive is an insurance company whose owners elect to be taxed on the captive’s investment income only. Abusive micro-captives involve schemes that lack many of the attributes of legitimate insurance. These structures often include implausible risks, failure to match genuine business needs and, in many cases, unnecessary duplication of the taxpayer’s commercial coverages.
Syndicated conservation easements: A conservation easement is a restriction on the use of real property. Generally, taxpayers may claim a charitable contribution deduction for the fair market value of a conservation easement transferred to a charity if the transfer meets the requirements of Internal Revenue Code 170. In abusive arrangements, which generate high fees for promoters, participants attempt to game the tax system with grossly inflated tax deductions.
Beware of these bogus tax avoidance strategies. If you or your client is in any abusive tax shelter, contact me for assistance. I can help you get your money back.
Wallachinc@gmail.com
516-236-8440