IRS Releases Latest "Dirty Dozen"

The IRS released their 2006 version of the top 12 tax scams they run across in their enforcement duties. Basically, if you hear someone promoting a tax strategy that sounds too good to be true, it's probably on this list.

A couple areas that we've had clients ask us about are on this list: offshore bank accounts and misused trusts. As you can see, these are clearly on the radar screen of the IRS. If you participate in any of these types of schemes, just be ready to pay the penalties when the Service comes knocking!