The Illegal Trust Tax Scam All Over Social Media

Learn the truth about the viral “643 trust” strategy and why tax attorneys warn it could lead to serious IRS consequences. In this video, Toby Mathis and attorney John Strohmeyer break down what Internal Revenue Code Section 643 actually says, how promoters on TikTok, Instagram, and YouTube are misinterpreting it, and why claims of “no income tax” are simply not accurate. Would you like to learn more about protecting your assets and minimizing taxes? Schedule a free consultation here: https://aba.link/j4gy Learn more about John Strohmeyer 👇 Subscribe to Strohmeyer Law https://www.youtube.com/@strohmeyerlawpllc https://www.strohmeyerlaw.com/houston-professional-advisors/ https://www.strohmeyerlaw.com/ They explain the difference between fiduciary accounting income and taxable income, and how this confusion is being used to sell illegal trust schemes. You’ll also hear what the IRS is doing about these abusive strategies and what happens to individuals who follow this advice. If you’ve heard claims about eliminating taxes with trusts or “what the ultra-wealthy do,” this video provides a clear, legally grounded explanation. 🔔 Don't forget to subscribe for more insights on real estate investing and business strategies! Show Notes: 0:00 – Intro & Topic Overview 0:25 – What is a “643 Trust”? 1:30 – Promoter Claims vs Reality 3:30 – How 643 is Misinterpreted 8:30 – Why It’s Still Taxable 10:20 – Breaking Down “Cowboy Hat Guy” Strategy 13:30 – Debunking Income Deferral Claims 15:45 – Why These Trust Schemes Don’t Work 20:00 – “Too Good to Be True” Examples 23:30 – IRS Memo: Strategy is Invalid 26:30 – Real Case: Prison & Penalties 29:30 – What Happens When IRS Catches You 32:30 – What To Do If You Used This Strategy 34:00 – Common Law & “Sovereign” Myths 35:30 – Final Advice & Warnings --------------------------------------------------------------------------------------------------------- FREE TAX & ASSET PROTECTION WORKSHOP Register for an upcoming workshop today if you want to protect your business and personal assets from snoopy lawyers and creditors. Save Your Seat: https://aba.link/m830 ~~~~ FOLLOW US: Instagram: https://aba.link/instagram Facebook: https://aba.link/facebook Twitter: https://aba.link/twitter LinkedIn: https://aba.link/linkedin TikTok: https://www.tiktok.com/@tobymathisesq ~~~~ CONTACT US Phone: 800.706.4741 Email: [email protected] Fax: 702.664.0545 ABOUT TOBY MATHIS Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba --------------------------------------------------------------------------------------------------------- WARNING: I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name, and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture. The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. #TaxAdvice #IRS #TaxScam