ABATax: Comments from the Corporate Tax Shelter Task Force

Section of Taxation
Submission to the Federal Executive Branch

Additional Comments Concerning Temporary and Proposed Regulations
Under Sections 6011, 6111, and 6112 of the Internal Revenue Code of 1986
T.D. 8875, 8876, and 8877

Summary of Contents

The following comments are the individual views of the members of the Section of Taxation who prepared them and do not represent the position of the American Bar Association or the Section of Taxation.

These comments were prepared by individual members of the Corporate Tax Shelter Task Force of the Section of Taxation. Principal responsibility was exercised by George C. Howell, III and Caroline G. Root. The comments were reviewed by William M. Paul, Council Director for the Corporate Tax Shelter Task Force.

Although many of the members of the Section of Taxation who participated in preparing these comments have clients who would be affected by the federal tax principles addressed by these comments or have advised clients on the application of such principles, no such member (or the firm or organization to which such member belongs) has been engaged by a client to make a government submission with respect to, or otherwise to influence the development or outcome of, the specific subject matter of these comments.

Contact:

George C. Howell, III
Hunton & Williams
(804) 788-8793

Date: February 21, 2001

These comments are intended to supplement the comments on the corporate tax shelter regulations submitted by the Section of Taxation on August 29, 2000 (and corrected on September 18, 2000). As we stated in our prior comment letter, we commend the Treasury Department and the Internal Revenue Service (the "IRS") for their promulgation of the temporary regulations governing corporate tax shelter return disclosure, corporate tax shelter registration, and investor list maintenance and believe that the regulations represent a significant contribution to the ongoing process of crafting appropriate rules to halt abusive corporate tax shelters. We appreciate the opportunity to make additional comments on the substance of the regulations.

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