IRS Moves to Crack Down on Tax Shelters for Small Businesses

IRS Moves to Crack Down on Tax Shelters for Small Businesses
The Internal Revenue Service building in Washington, on March 22, 2013. Susan Walsh/AP Photo
Tom Ozimek
Updated:
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The IRS has issued proposed regulations that would abolish certain tax shelters.

The agency’s proposed rulemaking would classify certain types of insurance arrangements that let small businesses benefit from tax breaks as either “listed transactions” or “transactions of interest,” making it easier for the IRS to disallow certain claimed tax benefits.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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