The IRS wrapped its 2022 Dirty Dozen scams list urging taxpayers to watch out for and avoid being misled by tax avoidance strategies. Making the 2022 List are Cryptocurrency, non-filing, abusive syndicated conservation easement and abusive micro-captive deals. Taxpayers ought to be aware that they can not hide income from the IRS: “These tax avoidance strategies are promoted to unsuspecting folks with too-good-to-be-true promises of reducing taxes or avoiding taxes altogether,” said IRS Commissioner Chuck Rettig. “Taxpayers should not kid themselves into believing they can hide income from the IRS. The agency continues to focus on these deals, and people who engage in them face steep civil penalties or criminal charges.” The IRS has been steady in its warning to taxpayers that the Agency is focused on high-income taxpayers who engage in various types of tax violations which include:
- the most basic
- hiding assets in offshore accounts and in accounts holding cryptocurrency or other digital assets.
- failing to file returns
- engaging in sophisticated transactions that involve abusive syndicated conservation easement deals
- participating in abusive domestic micro-captive insurance arrangements
The IRS has stepped up its enforcements efforts for tax avoidance abusive schemes in recent years
The IRS Office of Chief Counsel announced earlier this year it would hire up to 200 additional attorneys to help the agency combat abusive syndicated conservation easements and…
