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Scheming Off The Top?(Senate Finance Committee looks for abusive tax shelters of businesses)(Brief Article)
Entrepreneur
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February 1, 2001|
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COPYRIGHT 2001 Entrepreneur Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Congress takes steps to uncover businesses' secret stash.
The Senate Finance Committee is expected to continue to push for a crackdown on abusive tax shelters. It issued a set of legislative proposals in the last Congress that called for tough new fines on these schemes and a hefty increase in penalties on shelter promoters. If the legislation passes, tax strategies for business owners may well he affected.
The committee's plan is a direct response to a Treasury Department request for Congress to take legislative steps to rein in abusive shelters. The ...
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New requirements for abusive tax shelters.(FTB News; accounting)(Brief Article)
Magazine article from: California CPA
; ...in the organization of a potentially abusive tax shelter; * Advised a potentially abusive tax shelter; * Provided an opinion on a potentially...tax shelter; * Promoted a potentially abusive tax shelter; * Sold a potentially abusive tax ...
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Uncertain future: budget, regime change will pose challenges.(California Tax)
Magazine article from: California CPA
; ...session. The tax shelter laws: * Create...associated with an abusive tax shelter and...assessments related to abusive tax shelter investments...subpoena related to abusive tax shelters...filed to reverse abusive tax shelter ...
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An overview of California's 2003 tax shelter and abusive tax shelter legislation.
Magazine article from: Tax Executive
; ...aggressively combat abusive tax shelters and transactions...and promoters of abusive tax shelters. (3...FTB perceived as abusive tax shelters. The...The California tax shelter legislation was...use of abusive tax shelters. (6...and potentially ...
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New Circular 230 regulations impose strict standards for tax practitioners.
Magazine article from: Tax Executive
; ...final regulations amending the tax shelter provisions of Circular 230, which...in a continuing effort to deter abusive tax shelter opinions. As far back as 1980, the Treasury Department characterized abusive tax shelters as one of the most serious...Department explained, the ...
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Under scrutiny.(Tax Shelters; Franchise Tax Board)
Magazine article from: California CPA
; ...audits of suspected abusive tax shelters. This...addition to the 265 tax shelter cases the FTB...involvement in abusive tax schemes. JOINING...participants in a tax shelter symposium indicated...promoters of the tax shelter and the IRS and...crack down on ...
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Illinois's new tax shelter rules.
Magazine article from: Tax Executive
; ...steps to combat abusive tax shelters and transactions...deter promoters of abusive tax transactions...Revenue Code provide tax shelter rules that require...by the IRS to be abusive tax avoidance transactions...of a potentially abusive shelter; (9) ...
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The carrot and the stick: IRS's new disclosure initiative and guidelines for imposing the section 6662 accuracy-related penalty.
Magazine article from: Tax Executive
; The federal tax system in the United...and other potentially abusive tax shelters (defined later...what it considers to be abusive tax shelters since early...created the Office of Tax Shelter Analysis (OTSA), which...to examiners working abusive tax shelter ...
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Update on IRS crackdown.(Tax Tip)
Magazine article from: Doors and Hardware
; ...it considers to be abusive tax shelter transactions, as...cannot relate to tax shelter promotion and it...plans as potentially abusive tax shelters, called...to a potentially abusive tax shelter and risk getting...
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Circular 230: is the hysteria over?
Magazine article from: Tax Executive
; ...regulations were developed to curb abusive tax shelter opinions. But do they? Instead of outlawing abusive tax shelter opinions, the regulations...the cost of dealing with abusive tax shelter opinions is being borne daily...
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Succession planning issue for practitioners ... by practitioners.
Magazine article from: The National Public Accountant
; ...Background on Circular 230 Along with his Tax Advisor column on Circular 230, Page...way for the IRS to counterattack abusive tax shelters. Last December, the IRS...Generally, the regulations concern tax shelter opinion letters and state and local...written advice on matters, such as ...
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