Small Business Reading Room

Monday, November 24, 2003

Abusive Tax Shelters and Tax Evasion

The United States Treasury, Internal Revenue Service (IRS) is making a big push in enforcement and persuasion to root out what they call abusive tax shelters. The IRS recently published a list of talking points for tax practitioners to use with their clients. These are, I assume, ways to talk your clients out of using these tax shelters.
IRS talking points on Abusive Tax Shelters

Matching the persuasion effort is the enforcement effort. The IRS is pulling out the stops in its effort to curb the use of tax avoidance schemes. They are pursuing the marketers and developers of the shelters by demanding registration of all shelters that firms promote. You may want to ask your tax advisor about his or her policies if you participate in any tax reduction schemes.
Google link about Tax Shelter enforcement news.

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