The Service goes after a taxpayer’s fraudulent transfer of real estate. A woman who owed over $2 million in back taxes conveyed real property worth $400,000 to her grandson for no consideration. At the time of the transfer, she had no other significant assets. IRS asked a court to set aside the transfer, claiming it was a fraudulent conveyance under state law. IRS also sought foreclosure and sale of the property. The court sided with the agency (Wight, D.C., Wash.).
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