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loophole definition - finance
A technicality that allows a law or tax rule to be bypassed without violating the law. The term is commonly used to refer to ways of avoiding paying taxes. When a tax loophole is discovered, the U.S. Treasury attempts to close the loophole and prosecute any current and future offenders.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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