Who wouldn’t want to sell property tax free all while appearing charitable in the process? The clients of John Eickhoff, Jr. and Hoffman Associates, LLC learned the hard way that the Charitable Remainder Annuity Trust (CRAT) scheme promoted by Eickhoff and Hoffman was not only unlawful, but they grossly overpaid for services and property in the process.
The Department of Justice prevailed when the U.S. District Court for the Western District of Missouri permanently barred five defendants who promoted the CRAT scheme from organizing, promoting, selling or marketing tax schemes involving the use of CRATs and also ordered Hoffman to disgorge $1.1 million and Eickhoff to disgorge $400,000. Taxpayers are mindful to be vigilant against unscrupulous tax preparers. Read the complete article here .
