IRS Shifts Tactics on ‘Dirty Dozen’ Suspected Tax Dodges
Tax attorney Joshua Odintz was quoted in a recent Bloomberg Law article titled “IRS Shifts Tactics on ‘Dirty Dozen’ Suspected Tax Dodges.” In an effort to crack down on schemes used to circumvent paying taxes, the IRS has issued several proposed rules intended to identify suspicious listed transactions, such as certain syndicated conservation easements, micro-captive insurance transactions and transactions in Maltese retirement plans. The article goes on to discuss how streamlining the identification of transactions of interest and the IRS’ notice and comments processes will allow for more transparency and ensure court rulings do not interfere with the IRS’ investigations into potentially abusive transactions.
“It provides for certainty for taxpayers and for the tax system, so I think this is the right approach,” Mr. Odintz told Bloomberg Law, adding that it will also offer those who disagree opportunities to voice their opinions.
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