tax loopholes
Exploitable code gaps
Tax loopholes are legal provisions that allow people or corporations to reduce their tax burden in ways lawmakers didn't intend or that seem to circumvent the spirit of tax law.
The term carries disapproval—what one person calls a loophole, another might call a legitimate deduction or incentive: The wealthy exploit tax loopholes that ordinary people can't access.
Loopholes often involve complex arrangements that technically comply with the law while defeating its purpose.
- shell companiesLegally registered but inactive businesses
- deductionsConclusions from reasoning
- tax codeLaws governing taxation
- tax avoidanceLegal payment minimization
- tax lawRules governing government levies
fine print · creative accounting · offshore accounts · Panama Papers · tax havens · exclusions · exemptions · exploitation · legislative oversight · write-offs · deferrals · depreciation · inequality · credits · trusts · social responsibility · revenue loss · shelters
- US Taxationincome tax, federal tax, tax rates, tax code, IRS
- Tax Policytax reform, tax policy, tax code, tax brackets, tax rates
- bending rulesloopholes, skirting, exploits, workarounds, cutting corners
- corporate taxcorporate tax, corporation tax, corporate taxation, taxable income, tax liability
- injusticeinjustice, inequality, discrimination, bias, prejudice
- taxessales tax, income tax, estate tax, excise tax, corporate tax
tax loopholestax compliance
Following taxation laws
tax liability · tax obligations · tax burden · civic duty · tax evasion
tax loopholestax increases
Raised government levies
tax penalties · progressive taxation · tax liabilities · back taxes · tax obligations