Government Tax Deed Sales: Difference between revisions
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Revision as of 16:36, July 28, 2025
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The IRS collected $3.4 billion from GlaxoSmithKline for allegedly cheating on its taxes. The irs contended that it evaded taxes by making several inter company transactions to foreign affiliates regarding two with the patents and trademarks on popular drugs it owns. That is known as offshore tax fraud.
In the above scenario, ahead of time saved $7,500, but the internal revenue service considers it income. If the amount is over $600, any creditor should send a form 1099-C. How could it be income? The irs considers "debt forgiveness" as income. Exactly how can a person receive out of increasing your taxable income base by $7,500 with this settlement?
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