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Revision as of 18:09, 11 August 2026


A disgruntled ex-employed call the state, reported my family's glass business for sales tax evasion. Among the local state sales tax auditors called plan some time to pore through our books.

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Structured Entity Tax Credit - The irs is attacking an inventive scheme involving state conservation tax breaks. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually used up and a K-1 is distributed to the partners who then go ahead and take credits at their personal head back. The IRS is arguing that there is absolutely no legitimate business purpose for that partnership, it's the strategy fraudulent.

So on your working income, the us government taxes takes your 'income tax' you pay according on your own taxable income used to the tax brackets plus gets 14.3% of your working income too.

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