A promotor who operated a timeshare donation program for charitable purposes has been ordered to pay an $8,465,000 penalty for tax fraud. The federal District Court in Montana has affirmed an Internal Revenue Service penalty for the “bogus tax scheme.” James Tarpey formed Project Philanthropy, a 501(c)(3) corporation doing business as Donate for a Cause, in 2006 and was the sole voting member. He encouraged timeshare owners to donate their unwanted timeshares for generous tax savings. He also owned Vacation Property Appraisers, which provided the appraisals for a fee, a for-profit real estate closing corporation to handle the closing on the gifts for a fee, and two other for-profit...