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IRS Adds Several Tax Traps Aimed at Wealthy Individuals to 2024 Dirty Dozen Campaign  


Author:  Megan L. Brackney.


Source: Volume 41, Number 03, Spring 2024 , pp.63-65(3)




Journal of Taxation of Investments

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Abstract: 

Each year, the IRS focuses on a dozen questionable tax avoidance schemes (twists on otherwise legal tax strategies) that wealthy taxpayers may be encouraged to try. Three new suspect types of transactions have joined this year’s list, as the author explains.

Keywords: tax scams; high-net-worth tax schemes; art donation tax deductions; monetized installment sales; charitable remainder annuity trusts

Affiliations:  1: Kostelanetz LLP.

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