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IRS Issues Warning on Tax Schemes
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The IRS has warned wealthy taxpayers about three tax schemes, including art donations, CRATs, and MISTs, that exploit tax laws for financial gain, emphasizing the risks involved.
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How do these tax schemes specifically target wealthy individuals and their assets?
What broader implications do these warnings have for tax compliance and enforcement among the affluent?
What measures can the IRS take to prevent the proliferation of such tax avoidance schemes?
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