More frivolous claims.
2007 March 19
Continuing the list of 40 positions not to take on your federal income tax return because they have been deemed frivolous or fraudulent according to IRS:
20. A taxpayer may avoid tax on income by attributing the income to a trust,
including the argument that a taxpayer can put all of the taxpayer’s assets into
a trust to avoid income tax while still retaining substantial powers of ownership
and control over those assets or that a taxpayer may claim an expense
deduction for the income attributed to a trust, or similar arguments described
as frivolous in Rev. Rul. 2006-19, 2006-15 I.R.B. 749.
Psst, remember: This is a list of positions NOT to take!!
