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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Re: re post above estate tax avoidence Date: 11/19/2009 6:05 AM
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+ How might it be discovered, why would the IRS even know? Do tax authorities review deed transfers?

They review all sorts of things, including letters. The one taxpayer I dealt with personally who went to jail was turned in by a PO'd ex. Coupled with the fact that people who defraud the gummint can't keep their traps shut, and I'd say the odds are pretty good they'd get caught. Look at how many people already know about this scheme, and they haven't even gotten to the public record part of it.

Thanks for the clarification of what's going on. It's evasion, and I would assume they'd go after both A & B.

Geez, I wish there WERE, better tax angles for all.

What, you want the gummint to give them money? Is there anyone involved in this process who has bothered to find out what the law is, or are they so obsessed with sticking it to that Kenyan that they're willing to go to jail and/or pay huge fines? If A went to his dirt nap today there would be zero estate tax, and whoever inherited the property would inherit it with a basis equal to current fair market value. That translates into zero tax, but evidently that's not enough for, if I understand you correctly, these people who consider themselves patriots.

Sheesh!

Phil
Rule Your Retirement Home Fool
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