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Structured Entity Tax Credit - The government is attacking an inventive scheme involving state conservation tax attributes. The strategy works by having people set up partnerships that invest in state conservation credits. The credits are eventually spent and a K-1 is distributed to the partners who then consider the credits on the personal yield. The IRS is arguing that there isn't a legitimate business purpose for that partnership, which makes the strategy fraudulent.

Copyright 2010 by RioneX IP Group LLC. All rights reserved. This material may be freely copied and distributed subject to inclusion of this copyright notice, author information and all the hyperlinks are kept complete.