Getting Associated With Tax Debts In Bankruptcy: Difference between revisions
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Revision as of 14:19, 8 January 2025
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Structured Entity Tax Credit - The internal revenue service 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 spent and a K-1 is issued to the partners who then take the credits with their personal return. The IRS is arguing that there isn't a legitimate business purpose for that partnership, it's the strategy fraudulent.
The IRS collected $3.4 billion from GlaxoSmithKline for allegedly cheating on its taxes. The irs contended in which it transfer pricing evaded taxes by making several inter company transactions to foreign affiliates regarding two with the patents and trademarks on popular drugs it owns. That is known as offshore tax fraud.
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