AICPA urges end to abusive tax shelters.Exploitative tax shelters tax shelter: see tax exemption. are an insult to honest taxpayers and their CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. advisers, the Institute's tax executive committee said in a letter to Senator Charles E. Grassley, chairman of the Senate Finance Committee, who is proposing legislation to curtail such arrangements. Besides supporting Grassley's position, the AICPA AICPASee American Institute of Certified Public Accountants (AICPA). letter also noted that "deterrence deterrence Military strategy whereby one power uses the threat of reprisal to preclude an attack from an adversary. The term largely refers to the basic strategy of the nuclear powers and the major alliance systems. from and the eventual eradication of abusive transactions are best accomplished through disclosure, higher nondisclosure penalties, clearer standards for reasonable cause penalty relief and opinion letters, aggressive enforcement and continued evolution of appropriate solutions by an informed judiciary" (www.aicpa.org/download/members/div/ tax/grassley-letter.pdf). |
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