Abusive-tax-shelter Definition

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An investment that is being used to avoid taxes illegally. The Internal Revenue Service lists abusive shelters and gives people using those shelters a limited time to propose settlement options. Some abusive transactions involve inaccurately setting the price that an asset or business is acquired at in order to decrease the amount of taxes that have to be paid. Abusive tax shelters may involve contingent liabilities.
Webster's New World Finance

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