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Tax Loss Trading and Loss Companies Raise Tax Avoidance Concerns
Washington report details how buying and merging with loss companies allows offsetting future profits against past losses. Examples include Textron American and American Woolen, with Royal Little cited for leveraging tax shelters. The piece notes congressional tightening, legal loopholes, and risks of reduced tax revenues and anti trust implications.
MENTIONED IN THIS ARTICLE
Washington
Congress
Textron, Inc
American Woolen Co
Robbins Mills
Textron-American
Western Union
LaGuardia
Delta
Vernon J. Pick
Colorado Plateau
Pick
Floyd B. Odlum
Atlas Corp
Atlas