tax shelter

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Tax shelter

Legal methods taxpayers can use to reduce tax liabilities. An example is the use of depreciation of assets.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Tax Shelter

An investment vehicle that reduces one's tax liability. For example, a 401(k) defers taxation until withdrawal from the account and may therefore be considered a tax shelter. Tax shelters are legal unless their sole purpose is to avoid taxes. See also: Tax evasion.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

tax shelter

An investment that produces relatively large current deductions that can be used to offset other taxable income. Popular tax shelters include real estate projects and gas and oil drilling ventures. Also called shelter. See also abusive tax shelter.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

tax shelter

An investment that generates paper losses or tax credits that may be used to offset other income and thus reduce taxes.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
While most of the controversy surrounding corporate tax shelters deals with issues of registration, listing, and disclosure of shelters for tax purposes, the disclosure of corporate tax shelters in a company's financial statements can be overlooked.
Lloyd Doggett (D-Texas) introduced the Abusive Tax Shelter Shutdown Act of 2001 (H.R.
The IRS defines "confidential corporate tax shelter" as an entity, plan, arrangement, or transaction that meets the following requirements:
Practitioners should examine case law about marketed opinions in the tax shelter area for examples that might be analogous to those potentially covered by Section 10.37.
* Participated in the organization of a potentially abusive tax shelter;
Daugerdas was a tax shelter racketeer who tapped into the incredible greed of some of the country's wealthy.''
"Abusive tax shelters are marketing schemes involving artificial transactions with little or no economic reality.
Countryside argued that it was not required to produce the documents because the IRS had failed to prove that minutes were related to the promotion of a corporation's participation in any tax shelter, so the Sec.
The court noted that under section 7525(b), the privilege does not apply to written communication "in connection with the promotion of the direct or indirect participation" of a corporation in a tax shelter as defined in section 6662(d)(2)(C)(ii).
SB 747 (Machado) targeted those who plan, promote or sell abusive tax shelters and lowers the standard of proof for the FTB in proving cases against practitioners.
Tax shelters have become so widespread and abusive that Congress has taken action.
"This is not about tax shelters; it's about the fundamental nature of Appeals." He explained that the flaw in the IRS's announcement is illustrated by those transactions involving valuation disputes.