WASHINGTON, Sept. 18 -- The U.S. Department of the Treasury's Internal Revenue Service issued the following IRS Employee Plans News:
The Internal Revenue Service today warned taxpayers, tribal communities, businesses and tax professionals about promoters selling fake "Tribal Tax Credits" that do not exist under federal law. Promoters are falsely claiming that these credits can reduce federal tax liabilities or generate refunds.
Promoters market these fake credits generically as "Tribal Tax Credits," "Native American Tax Credits," "Sovereign Tribal Tax Credits," or similar names. These federal tax credits do not exist, and taxpayers who claim them may face civil and criminal penalties.
"Protecting taxpayers and the integrity of the tax ...