Easements require an IRS 8886 form to reduce fines

Easements require an IRS 8886 form to reduce fines: Know what an IRS 8886 form is? If you contribute a conservation easement to a qualified organization, then you’...

Comments

Easements

Syndicated Conservation Easement Transactions For years I have been saying the the IRS is coming. The Internal Revenue Service announced today a significant increase in enforcement actions for syndicated conservation easement transactions, a priority compliance area for the agency. Coordinated examinations are being conducted across the IRS in the Small Business and Self-Employed Division, Large Business and International Division and Tax Exempt and Government Entities Division. Separately, investigations have been initiated by the IRS' Criminal Investigation division. These audits and investigations cover billions of dollars of potentially inflated deductions as well as hundreds of partnerships and thousands of investors. "We will not stop in our pursuit of everyone involved in the creation, marketing, promotion and wrongful acquisition of artificial, highly inflated deductions based on these aggressive transactions. Every available enforcement option wil...

Expert Testimony in Cryptocurrency Matters

Cryptocurrency Explained Lance Wallach Digital and online forms of money handled through transactions constitute cryptocurrency, and these networked interactions lead to possible legal complications based on real world issues with the technical and financial realms. To understand these matters better, a courtroom may need the help of an expert witness to detail what cryptocurrency is and how it affects the plaintiff. In the digital world, computers and networking are becoming more important in the business and financial aspects of the globe, cryptocurrency has a purpose. The implications of online currency and payment for like services is not uncommon. However, by shifting income to strictly online aspects of money, it is possible for services and networked products to come to the forefront without real money interfering. Some may transfer cash into online gaming and other electronic pursuits, but cryptocurrency may remain digital payment for services and work without...

IRS uses tape recordings of undercover who forms 831(b) Captive

The Internal Revenue Service (IRS) had planned to use tape recordings of an undercover agent looking to form an 831(b) captive with Tribeca Strategic Pilot Series of Fortress Insurance v Commissioner , a case in which the taxpayer is accused of using a captive as a tax shelter, was scheduled for trial on June 3, 2019, although the case has now settled, with the taxpayers conceding beforehand. This case follows former clients of Artex seeking damages from it in an Arizona-based lawsuit , Shivkov v Artex Risk Solutions , accusing the captive manager of conspiring to design, promote, sell, implement and manage illegal tax-advantaged captive insurance strategies using unlawful attempted 831(b) elections. An undercover agent recorded three conversations between 2006 and 2008 of Artex executives Karl Huish, Jim Tehero and Ken Kotch, as part of an investigation by the Criminal Investigation Division of the IRS relating to Tribeca and other affiliates....

Conservation Easement Cases

Search This Blog