Details Of 2010 Federal Income Taxes: Difference between revisions

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Structured Entity Tax Credit - The government 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 depleted and a K-1 is disseminated to the partners who then go ahead and take credits on the personal revisit. The IRS is arguing that there isn't legitimate business purpose for the partnership, can make the strategy fraudulent.

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