Publication 550 |
2001 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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