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U.S. Tax Shelter Industry: The Role of Accountants, Lawyers, and Financial Professionals - Four KPMG Case Studies: FLIP, OPIS, BLIPS, and SC2
Senate Committee on Governmental Affairs Permanent Subcommittee on Investigations
Senate Committee on Governmental Affairs
Permanent Subcommittee on Investigations
Abstract
The Senate Committee on Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations Minority Staff conducted an investigation into the use of "tax shelters" - or a tool for decreasing tax liability - by financial institutions and accounting and law firms. The Subcommittee reviewed thousands of documents containing relevant tax information and conducted interviews with representatives of firms and financial institutions. The Subcommittee found tax shelters were a prevalent issue in the financial industry, with many financial institutions and accounting and law firms being complicit in using tax shelters to decrease their tax liability.
Date
2003-11-18
Document Type
Senate Minority Staff Report
Serial Number
108-34.Sprt
Document Length
134 pages
Congress
108
Relation
DOI
Keywords
Staff Reports
PAP Major Code
20: Government Operations
PAP Minor Code
2009: IRS Administration