Taxpayers beware, warned the IRS, as it issued the 2022 “Dirty Dozen” scams list. The list starts with four potentially abusive arrangements to avoid, including: charitable remainder annuity trusts, Maltese individual retirement arrangements, foreign captive insurance and monetized installment sales. If these schemes appear on a tax return, they will likely draw unwanted IRS focus. “Think twice,” said IRS Commissioner Chuck Rettig. “Taxpayers are legally responsible for what’s on their return, not a promoter making promises and charging high fees.” He urged taxpayers to rely on “reputable tax professionals they know they can trust.” Here’s more: https://bit.ly/3xbE0Jk
