Business, Legal & Accounting Glossary
A situation with two or more organizations that are controlled by the same people or parties, rules that allow the IRS to treat some income, deductions, or credits that are claimed by one as also being claimed by another in order to reflect the true tax liability for the organizations. These rules exist in order to prevent tax evasion by hiding some income in shell companies.
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This glossary post was last updated: 20th November, 2021 | 0 Views.