U.S. Tax Shelter Industry: The Role of Accountants, Lawyers, and Financial Professionals - Four KPMG Case Studies: FLIP, OPIS, BLIPS, and SC2

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Serial Number
108-34.Sprt
Levin Center Identifier
Document Date
2003-11-18
Report Length
134 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Found Using Methodology
Yes
Commission(s)
Idependent Author(s)
Brief Executive Summary
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.
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Authors–Congress Members
Authors–Staff Members
Authors–Ex Officio Members
Authors–Additional, Minority, Dissenting Views
Citation