An "Asset Protection" Tax Scheme
If David Marvin Swanson calls, you may want to hang up. Swanson has been charged with allegedly promoting an illegal tax scam.
Using something called unincorporated business trust organizations and limited liability companies, Swanson peddled his ideas in a manual and on his website. He calls the schemes a form of “asset protection”. The Justice Department lawsuit claims this is a legitimate sounding name for what is illegal tax avoidance, which is the real focus of his activities.
The lawsuit alleges that Swanson, who also does business as Dynamic Monetary Strategies, is promoting schemes intended to help his customers illegally drop out of the tax system, making it difficult to detect their tax evasion.
Obviously, somebody detected something because Swanson is now under fire from the federal government. The motto for Swanson might be “don’t mess with the IRS.”
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