KNOXVILLE, Tenn. (WVLT) – The Internal Revenue Service released its “Dirty Dozen” list of tax scams Tuesday. The list includes scams run by tax promoters who promise victims large tax deductions in exchange for false donations.
The scams range from fake charities to false claims about business credits. Some of the possible scams people might run into are listed in the report:
Syndicated conservation easements
Promoters “game the system” and use inflated appraisals of undeveloped land to gain unwarranted tax deductions.
Abusive micro-captive arrangements
Promoters peddle insurance attributes that often include excessive premiums.
Those using this scam rely on misinterpretations of the U.S. – Malta Income Tax Treaty to get people to contribute to Maltese pension plans with the promise of selling the assets.
Improper claims of business credits
Scammers will use improper claims for research and expiration…