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by GFischer
2823 days ago
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But it's very hard to prove such fraud. If you artificially pump the value of an artist by a few well placed public auctions - the art might have been bought by a front man for the owner, then the IRS doesn't have a leg to stand on, as a "market value" for the artist has been established (my mother worked on auctions for a time and there were a lot of shady schemes to pump up value of collectibles). The 0.1 have access to the very best tax advisors money can buy (and probably some IRS insider info as well). |
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