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primarily to individuals operating home-based businesses.
Petitioner received TRS materials from Renaissance that stated,
in part: “the smartest plan of action for any taxpayer” was to
use TRS “along with [the taxpayer’s] existing home business.”
The TRS materials also stated that an individual could “start a
home business by declaring you are in business” that would “turn
most of your everyday expenses into business expenses.”
The TRS materials provided to petitioner by Renaissance
include discussions titled “Maximize Your Home Business
Deductions”, “Maximize Your Business Vehicle Deductions”,
“Maximize Your Travel Deductions”, “Maximize Your Entertainment
Deductions”, and “Hire Your Children to Realize BIG Tax Savings”.
These TRS materials also include the “W-4 Exemption Increase
Estimator” that Renaissance claimed would provide an “immediate
cash benefit” and “increase [a taxpayer’s] take-home pay by
hundreds of dollars” by adjusting his or her current deductions
on the Form W-4, Employee’s Withholding Allowance Certificate.
In addition, Renaissance guaranteed that individuals who use
TRS would generate “a minimum of $5,000 in [F]ederal income tax
deductions for the first twelve (12) months you operate your home
business”. Individuals who participated in TSA could also choose
to participate in Renaissance’s Pre-Paid Tax Advantage (PTA)
system. PTA offered participants, in part, unlimited tax
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Last modified: May 25, 2011