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Real Estate & Property Law

: The Home Equity Theft Reporter

Federal Judge, IRS Put Kibosh On Wells Fargo Sale Leaseback Scheme; Bank Took Improper $115M Tax Deductions On Deals Lacking Economic Substance: Court

By r morris

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USA Today reported last week on another way that a sale leaseback transaction can be employed in an abusive manner. Were it not for the Federal judge slamming the door shut on this attemped scam by recharacterizing the transactions as an attempt to buy tax deductions in exchange for an upfront fee, the victims of this type of sale leaseback ripoff would have been the American taxpayers. The

Full post as published by The Home Equity Theft Reporter on January 18, 2010 (boomark / email).

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