The Role of Professional Firms in the U.S. Tax Shelter Industry
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Serial Number
109-54.S
Levin Center Identifier
Document Date
2005-04-13
Report Length
136 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Report Type
Found Using Methodology
Yes
Subcommittee(s)
Commission(s)
Idependent Author(s)
Brief Executive Summary
The Permanent Subcommittee on Investigations of the Senate Committee on Homeland Security and Governmental Affairs conducted an investigation into the use of abusive tax shelters by accounting firms. The Subcommittee reviewed financial documents from said accounting firms and conducted hearings with testimony from accredited tax experts and legal counsel. The report found that multiple accounting firms were marketing "tax products" which existed solely for the purpose of avoiding federal taxes.