Abusive Tax Shelters
Abusive Tax Shelter Example
If any of these promotions exist, you should consult a tax professional not involved in promoting the investment or contact the IRS to determine how it will treat such a promotion. It's worth your time to learn about the legal/tax consequences of the promotion you are considering investing in. The penalties, interest, and legal costs associated with an abusive tax promotion are significant.
Additional Information on Abusive Tax Shelters
For more information on abusive tax shelters, you may want to check out these links. For questions on abusive tax shelters or other tax matters call (800) 829-1040.