Tax Professionals Behaving Badly

In this article, the authors contemplate why tax professionals behave badly (that is, unethically), forming highly suspect corporate tax shelters that are void of any economic substance. The reason, they conclude, is simple: money and opportunity. When it comes to corporate tax shelters, there is plenty of both. Establishment of these shelters generates enormous fees, and the penalties and ethical oversight surrounding their formation are virtually nonexistent. Pending legislation, however, creates a glimmer of hope that tax professionals may have no choice but to cease their bad behavior - or face more serious consequences