A Boise, Idaho-based capital management business and its director were hit with an IRS lawsuit Thursday seeking to block their promotion of installment agreements the agency labeled as a tax scam.
Stanley Crow and his firm, S. Crow Collateral Corp., must stop selling monetized installment sales to customers because they unlawfully defer capital gains tax due on the sale of appreciated assets like real estate, the IRS told the US District Court for the District of Idaho.
Since 2015, Crow and his firm sold about 386 MIS transactions to clients and reported more than $968 million in total sales, according ...
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