More seriously, money laundering happens in some insane ways when you start talking about seriously rich people and avoiding taxes. Take a look at the modern art market these days. There's a lot of "Buy $WORK for $PRICE; donate $WORK to $MUSEUM for $TAX_WRITEOFF," where $TAX_WRITEOFF >>> $PRICE. There's a bit more to it, but that's the gist of how it works.
> More seriously, money laundering happens in some insane ways when you start talking about seriously rich people and avoiding taxes. Take a look at the modern art market these days. There's a lot of "Buy $WORK for $PRICE; donate $WORK to $MUSEUM for $TAX_WRITEOFF," where $TAX_WRITEOFF >>> $PRICE. There's a bit more to it, but that's the gist of how it works.
I hear this a lot but when I've looked it seems the IRS is particularly aware of this type of fraud [0]. Do you have anything more I can read about this?
[0]: https://www.washingtonpost.com/lifestyle/magazine/the-secret...