Micro captives again on US Internal Revenue Service’s tax avoidance list

The US Internal Revenue Service (IRS) has again included micro-captives on its list of abusive tax avoidance schemes, known as the ‘Dirty Dozen’. The IRS warned taxpayers to steer clear of abusive tax avoidance schemes and “the unscrupulous individuals who promote them”, reminding taxpayers that those who participate in illegal schemes may face prosecution, civil litigation and ultimately having to…

Please register or login to view the full post