Every year, the irs issues a list of tax scams. To create is to alert taxpayers to the possible lack of merit of certain strategies as well as letting everyone know the IRS will not accept them. If mom and her spouse each put five thousand dollars for the 401k account, that would reduce your annual taxable income by ten thousand dollars. This means that your adjusted gross salary is $66 billion dollars. That will yield a substantial tax cost savings. Another significant tax break comes to you...