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tax shelter |
Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson | 0.02 sec. |
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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 ..... Click the link for more information. . How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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CalCPA-sponsored AB 1868 (Bermudez), which would correct the practice privilege statute that went into effect January 2006, made it to the governor despite opposition that mistakenly thought the legislation could allow the sale or promotion of abusive tax shelters to Californians with impunity. The testimony came at the close of a year-long government probe into the use of tax shelters by wealthy citizens, who may have ducked hundreds of millions of dollars in tax payments using secretive corporations and trusts on the Isle of Man. The IRS has been challenging tax shelters for more than 35 years. |
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