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by Fezzik
1591 days ago
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If you use a donation as a write-off you need an entity to claim receipt and value of the donation, since the donee would now have to claim the donation as an asset. If you’re asserting person X and Y are both selling and donating to each other, the IRS is not so dense as to let that fly. Alternatively, who are these entities that are claiming $90k of worthless NFTs as assets and getting taxed? |
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https://en.m.wikipedia.org/wiki/Slavery_reparations_scam
There are 1.6 million 501c3 organizations in the U.S. They range from huge to some dude who filled out some paperwork.
You’re right that the IRS has tightened up requirements but I disagree that the IRS isn’t dense. They’re horribly understaffed and enforcement has gone by the wayside.
https://ktla.com/news/nationworld/taxpayers-face-overloaded-...