tax shelter


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tax shelter

n.
A financial arrangement, such as the use of special depletion allowances, that reduces taxes on current earnings.

tax′-shel′tered (-shĕl′tərd) adj.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

tax shelter

n
(Accounting & Book-keeping) commerce a form into which business or financial activities may be organized to minimize taxation
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

tax′ shel`ter


n.
any financial arrangement, as an investment that reduces or eliminates the taxes due.
tax′-shel`tered, adj.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.tax shelter - a way of organizing business to reduce the taxes it must pay on current earnings
reduction, step-down, diminution, decrease - the act of decreasing or reducing something
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
The recent IRS court victories in the abusive tax shelter area suggest that current tax laws are sufficient to curtail abusive shelters.
Last November, Jonathan Talisman, Treasury's acting assistant secretary for tax policy, admitted before the House Ways and Means Committee, "It is unclear how much of the divergence between [corporate] tax and book income reflects tax shelter activity." What's needed at this point is a rigorous analysis of variances between recent corporate book earnings and tax receipts, data only Treasury can provide.
TEI firmly believes that the key to stopping tax shelter abuses is the effective administration of the tax law's substantive provisions.
Spurred by last year's tax shelter amnesty program that added $1.4 billion to the state's coffers, California is providing a general tax amnesty to individuals, businesses, fiduciaries, estates and trusts for tax years 2002 and prior.
Daugerdas was a tax shelter racketeer who tapped into the incredible greed of some of the country's wealthy.''
In the traditional sense, a tax shelter is simply a method that a taxpayer uses to generate tax deductions and credits by investing in "investment activities" that often are not expected to generate any real profits.
No matter what your investment circumstances, there is a tax shelter for you.
The Tax Court held that the tax shelter exception to the tax practitioner/client privilege did not apply to documents in the form of the minutes of meetings between a partnership and a federally authorized tax practitioner because the tax advice in the documents was not given in connection with the promotion of a tax shelter.
to produce documents sought by the IRS, saying they were not protected by the tax practitioner privilege of IRC [section] 7525 because they concerned a tax shelter. In so holding, the court adopted a more expansive view of what constitutes "promotion" of a tax shelter than the one that figured in the U.5.
A listed transaction is a reportable transaction that is the same as, or substantially similar to, a transaction specifically identified by the Treasury Department as a tax avoidance transaction; in other words, a tax shelter determined by the IRS to be abusive and therefore unlawful.
It is my experience--including that of the recent tax shelter initiatives--the Service also recognizes and supports our Appeals mission and our need to be independent.