Abusive Tax Shelter

Definition of "Abusive tax shelter"

Ocie J. Murphy real estate agent
Ocie J. Murphy, Real Estate Agent Keller Williams Realty Atlanta Metro East

The Internal Revenue Service considers overstating expenses, such as depreciation, or other illegal write-offs by real estate owners abusive tax shelters. If the write-offs are disallowed, the taxpayer must pay back taxes, interest, and penalties.

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