Specific tax fraud traps physicians should avoid
The IRS warns people to lookout for the tax scams peddled by tax promoters. These promoters will propose too good to be true “deals” that will cheat the system and market aggressively. Here are the list of abusive arrangements from IRS:
- Syndicated conversation easements.
- Abusive captive insurance arrangements.
- Potentially abusive use of the US-Malta tax treaty.
- Improper claims of business credits.
- Improper monetized installment sales.
The IRS recommends that anyone who participated in one of these abusive arrangements should consult independent counsel about coming into compliance. You could schedule a call with MMR CPA to discuss and prevent these tax scams.
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