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Tax Shelters

Some tax shelters are good. Others are illegal. Protect yourself by knowing the difference.

How To Pay Zero Taxes, 2005 (Book Review)
Review of the book, "How To Pay Zero Taxes, 2005: Your Guide to Every Tax Break the IRS Allows," by Jeff A. Schnepper. Recommended for anyone who wants to implement long-term tax strategies to reduce or eliminate their tax liabilities. Chapters 7 & 8 thorougly analyze various tax shelters.

Abusive Tax Scheme - Tax Glossary
Defition of an abusive tax scheme: a series of transactions designed solely to avoid income taxes.

Tax Avoidance - Tax Glossary
Aggressively minimizing taxes by using legal tax strategies.

Tax Evasion - Tax Glossary
Minimizing taxes by using illegal tax strategies.

How to Recognize and Avoid Tax Scams
Avoid falling prey to a tax strategy that's "too good to be true." Learn about abusive tax schemes that have come under IRS scrutiny.

The Truth about Frivolous Tax Arguments
Unclefed.com exposes six basic tax schemes, and discusses why they are illegal and frivolous. Legitimate tax shelters use sound tax planning strategies, while frivolous schemes rely on unsound interpretations of the tax code.

Economist.com | Economics A-Z
The Economist provides definitions of various tax concepts, including Tax Evasion and Tax Avoidance. Learn the difference between (legal) tax avoidance and (illegal) tax evasion.

Abusive Tax Schemes - IRS.gov
Some tax shelters are legitimate, others are illegal. Find out what types of schemes the IRS considers illegal, and how to protect yourself.

Understanding How Tax Shelters Work - CNN
Examines how illegal tax shelters work, especially the illegal tax schemes promoted by KPMG and other tax firms. CNN reporter Grace Wong details the anatomy of an abusive tax shelter that claims huge tax losses even though the taxpayer didn't lose a dime.

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