August 1, 2006
Tax Shelters- The Senate Will Speak
According to the Washington Post here, a Senate panel will be releasing a report today discussing tax shelters. The aim is to crackdown on shelters that some may consider legitimate, but others find clearly illegitimate. Issues of "advice of counsel" may play a factor in some of these shelters where some acted on the advice of people who thought the shelters legal.
- People who take these risks often find themselves paying more.
- Clarity in the law always works to everyone's benefit.
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