Many forms of tax shelters have been marketed in recent years to taxpayers as a way to reduce or avoid taxes. However, the Internal Revenue Service has declared a large number of these tax shelters to be "abusive" and has stepped up its efforts to identify and go after the investors in these tax shelters. The promoters of these abusive tax shelters include many well-known accounting and financial institutions.
Taxpayers who were sold tax reduction schemes that turn out to be "abusive" may have a claim against the promoter who sold them the shelter. If you invested in a tax shelter based on misrepresentations by the promoter and now face taxes and penalties, you may be able to recover the fees paid to the promoter and other damages.
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contact us if you have any questions or if you want to inquire about representation from an abusive tax shelter attorney.
