Tax Shelters: Avoidance or Evasion?

Recent hearings of a subcommittee of the Senate Committee Governmental Affairs have again focused a harsh spotlight on the abusive use of tax shelters. As if to stress the point, On Dec. 29, 2003, the Treasury Department proposed changes to Circular 230 that "set high standards for the tax advisors and firms that provide opinions supporting tax-motivated transactions."

24 minute read January 01, 2004 at 09:44 AM
By
Harvey M. Silets And Jonathan S. Feld
Tax Shelters: Avoidance or Evasion?

Recent hearings of a subcommittee of the Senate Committee Governmental Affairs have again focused a harsh spotlight on the abusive use of tax shelters.

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