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tax shelter
(redirected from Tax shelters)

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.
tax shelter: see tax exemption tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various
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While it agreed with the Tax Court that a House report could be a good record of congressional intent, it also found that in this case the report did not support Valero's position because nothing in it indicated that tax shelters were limited to actively marketed tax shelters or prepackaged products.
Valero further argued that the word "promotion" refers only to the peddling of prepackaged tax shelters, as alluded to in Textron (100 AFTR2d 2007-5848, "Tax Matters: Work Product Stands Up to IRS Summons," JofA, Nov.
The money was received from tax shelters, but the actual cash returns for the foundation were only $105,000 for the two years.
 
 
 
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