FlyingAccountant
Well-Known Member
I was around when they decided to make examples of a few people in 2002. You don't want to be used as an example for someone scoring points when they're climbing the political ladder.
That's coming back around at the moment, the IRS is on a hiring blitz right now to combat a lot of the hair brained schemes you see on Tik Tok and other social media platforms.
"Take out a (fake) million dollar loan from your spouse and she'll be the first creditor in line in the event you get sued!"
"Create your own LLC, take out a bunch of loans, don't pay them back and they won't be able to do anything about it!"
The LLC abuse in general is rampant right now.
IANACP, but my side gig is a bookkeeping business.