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The Internal Revenue Service (IRS) is warning taxpayers about what it deems its “Dirty Dozen” tax scams list for 2022, which includes abusive arrangements.
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The agency issued a press release stating that these arrangements are transactions that are wrongfully promoted and will likely attract additional agency compliance efforts in the future. The first four of them include charitable remainder annuity trusts, Maltese individual retirement arrangements, foreign captive insurance and monetized installment sales, the IRS said.
In the coming days, the IRS said it will focus on eight additional scams, including some focused on average taxpayers, while others are focused on more complex arrangements targeted toward higher-income individuals.
“Taxpayers should stop and think twice before including these questionable arrangements on their tax returns,” IRS Commissioner Chuck…
