The U.S. Department of Justice announced in February that it is seeking a court order to prohibit certain individuals and entities “from organizing, promoting or selling an allegedly unlawful tax scheme involving the use of charitable remainder annuity trusts (CRATs).” The government is alleging that the defendants were involved with at least 70 CRATS that resulted in $40 million of taxable income going unreported and at least $8 million in tax revenue losses.” The complaint in United States v. Eickhoff, Jr. et al. (U.S. Dist. Ct. W.D. Mo.), which was amended in March, is unfortunately not readily available through a free source but can be accessed through Law360 and Tax Notes, among other paid sources.
Coverage: Law360.
Lloyd Mayer
