Virtually all taxpayers engage some form of “tax shelter”, the name given to an investment which allows you to reduce your “tax liability” (the amount you pay in state/federal taxes). Two examples of legal tax shelters are retirement funds and real estate purchases. These are examples because they are financial pursuits, and not solely motivated by reduction of one’s tax liability.

Yet it’s imperative to understand that certain tax shelters are fraudulent. When faced with the prospect of a potentially illegal tax shelter, or when facing IRS sanctions for past involvement with such illicit shelters, the seasoned attorneys of Malecki Law can offer the sage legal advice to protect your interests, and civilly prosecute tax shelter promoters including national and international banks, brokerage firms, law firms, and accounting firms.

Recognizing Tax Shelter Fraud

Tax shelter fraud manifests itself in several ways that are at once identifiable, yet require a nuanced grasp of the finance laws manipulated by tax shelters. Major professional firms often issue “Letters of Opinion” to induce people into investing in a fraudulent tax shelter, to pay millions in fees, opining as to the legality of the transaction and purporting to protect them from penalties if the firm’s assessment is wrong. Consultation from the team at Malecki Law can help you determine if you have legal recourse against tax shelter promoters for fraud and/or breach of fiduary duty, breach of contract, etc. Your consultation with us is an opportunity to maintain a thriving record of one’s tax shelters, and assurance that one will not be the victim of such fraud.

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