The IRS has issued a warning about lucrative tax schemes offered by criminals that can result in serious consequences for taxpayers.
The Internal Revenue Service has issued its final warning to taxpayers ahead of next week's tax filing deadline.As part of its annual 'Dirty Dozen' fraud prevention campaign, the IRS has warned of bogus tax avoidance strategies and schemes with an international element that could impact taxpayers, businesses and professionals as the April 15 filing deadline is days away.
According to the IRS: 'These structures often include implausible risks, failure to match genuine business needs, and in many cases, unnecessary duplication of the taxpayer's commercial coverages.'The second half of the IRS warning involves those who hold financial assets outside of the U.S. which must be reported to the government agency, with failure to report carrying penalties. Taxpayers are warned that 'unscrupulous promoters 'continue to lure U.S.
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