Date of Defense

Spring 4-1983

Department

Accountancy

Keywords

investing, tax evasion, tax avoidance

Abstract

Taxable income is determined by subtracting from gross income various income offsets allowed by the Internal Revenue Code. Income offsets reduce tax liability dollar for dollar. The more tax offsets and income offsets a taxpayer can claim, the lower his tax. Accordingly, taxpayers plan their investments to take advantage of these offsets, especially deductions. Some taxpayers attempt to make the system work for them by investing in "tax shelter investments." Tax shelters typically involve an entity that receives favorable tax treatment, provide high security against loss, permit substantial deductions, and built capital value or future income. This thesis explores the characteristics of tax shelter investments, types of tax shelters, and how the IRS taxes and regulates tax shelters.

Access Setting

Honors Thesis-Campus Only

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