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Stamp scheme leverages IRS tax process flaw, Dan Neidle notes

Stamp scheme leverages IRS tax process flaw, Dan Neidle notes
Stamp exploits IRS tax loophole

Dan Neidle highlights a widespread scam involving Stamp in the U.S. According to Neidle, the scheme manipulates a vulnerability in how the Internal Revenue Service handles the 1099-OID tax form.

By submitting a form that claims U.S. tax was withheld, individuals may sometimes receive a payment from the IRS, even if they did not pay any U.S. tax.

Neidle has commented on other recent tax issues in previous posts. He clarified that a £5 million donation to Farage carries no tax consequences. He has also noted that the UK has one of the highest top dividend tax rates worldwide.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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