The Irs Wishes Fork Out You 1 Billion Pounds
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Structured Entity Tax Credit - The irs is attacking an inventive scheme involving state conservation tax credits. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually used up transfer pricing and a K-1 is issued to the partners who then go ahead and take credits on his or her personal refund. The IRS is arguing that there isn't a legitimate business purpose for kontol that partnership, rendering it the strategy fraudulent.
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