ADVISORY/Controller Announces Enforcement Crackdown on Abusive Tax Shelters.News Editors/Business Editors ADVISORY...for Tuesday Tuesday: see week. (Aug. 5) --(BUSINESS WIRE) State Controller and Franchise Tax Board Chair Steve Westly Steven Paul Westly (born August 27, 1957, in Arcadia, California) is an American businessman and politician. He was the State Controller of California from 2003 to 2007 and was one of the top two candidates in the Democratic primary for Governor of California in the 2006 election. will make an important announcement tomorrow unveiling the state's stepped-up audit effort to crack down on tax cheats costing the state hundreds of millions of dollars annually. Find out who the state is targeting with this wave of audits and what else California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). is doing to stem the flow of tax dollars escaping the state. Abusive tax shelters Abusive tax shelter A limited partnership that the IRS judges to be claiming tax deductions illegally. abusive tax shelter A tax shelter in which an improper interpretation of the law is used to produce tax benefits that are are transactions marketed with the promise of tax benefits with no correlating economic losses experienced. They are illegal.
Date: Tuesday, August 5, 2003
Time: 11:00 a.m.
Place: State Controller's Office
300 Capitol Mall, Suite 1850
Sacramento
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