WHAT HAPPENED
s striking is that the alleged tax savings—about $20,000—wasn These are sold as "vintage" or "collectibles" and sometimes they'll be described as "rare". One professor of accounting at the University of North Carolina’s Kenan-Flagler Business School and research director of the UNC Tax Center offers another description: Tax Fraud “This is a way to offset your taxes—clearly tax fraud,” Professor Jeffrey Hoopes tells Fortune. This is just an interesting one, and usually you don’t buy it on eBay, so it’s an interesting example. Fortune's Catherina Gioino points out that all earnings from lotteries, raffles, sports betting, horse races and casinos are fully taxable and must be reported on a return.
Continue reading from the original publisher for the complete report and source context.
READ ORIGINAL STORY