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They did, however, enable Enron to improperly claim $1 billion in profits in the year before the company's implosion, and generated bountiful but illegitimate revenues for those involved, particularly Andrew Fastow, the chief financial officer at the time.
In particular, he said, foreign banks would be required to determine whether their clients are United States investors hiding behind a foreign shell company to improperly claim lower tax rates from tax treaties with foreign countries — or not pay taxes at all.
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STATE and local governments are cracking down on people for improperly claiming something called the homestead exemption.
*Some schools improperly claimed Medicaid money for health care and medical evaluations provided to children who were not eligible.
In November, he also found that the state had improperly claimed nearly $70 million in reimbursements for some home health services from 2007 to 2009.
Mr Wright, a former private-equity executive, apparently gave Mr Duffy the money to help him repay improperly claimed housing costs.
Its own rent was very low and, by improperly claiming charitable status, Access also gained from a huge rates subsidy from Camden Council.
And in 45 percent of the foreclosures, properties were sold at auction to entities improperly claiming to be the beneficiary of the deeds of trust.
I.R.S. officials say that examiners found more than 70,000 taxpayers who had improperly claimed the credit, but were unable to say how much money had been recovered.
All of this made me wonder: are the banks' forgiveness letters a way to gain credits for debts these institutions are improperly claiming to have extinguished?
The companies would have to pay the remaining 80percentt of the improperly claimed deductions — a level still likely to hit many with seven-figure tax bills.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com