Rich People Buy Tribal Tax Credits Treasury Says Don’t Exist (1)

Cut your tax bill in half. Or maybe, not owe federal tax at all.

Native American tribes get billions of dollars in tax credits because of their sovereign status. If investors act now, they can take advantage of this exclusive offer to buy these credits for 50 cents on the dollar and claim the same benefits tribes do. They’re authorized by law, and two Big Law firms are giving opinions verifying the program.

That’s the pitch from financial advisers to put wealthy clients into these investments.

But no such credits exist, according to the Treasury Department. The two law firms ...