IRS Cracks Down on Tax Shelters

IRS investigators are cracking down on wealthy people who put their money into elaborately designed tax shelters. U.S. officials say tax avoidance schemes marketed to wealthy corporations and individuals exploded in the 1990s. NPR's Jim Zarroli reports.

Correction Oct. 6, 2004

This report contains the statement that William Seippel is suing the Ernst and Young accounting firm. While Mr. Seipple is suing the bank and law firm that set up the shelter he used, he is not suing Ernst and Young.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: