Publication 550 |
2000 Tax Year |
Introduction
Investments that yield tax benefits are sometimes called "tax
shelters." In some cases, Congress has concluded that the loss of
revenue is an acceptable side effect of special tax provisions
designed to encourage taxpayers to make certain types of investments.
In many cases, however, losses from tax shelters produce little or no
benefit to society, or the tax benefits are exaggerated beyond those
intended. Those cases are called "abusive tax shelters." An
investment that is considered a tax shelter is subject to
restrictions, including the requirement that it be registered, as
discussed later, unless it is a projected income investment (defined
later).
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