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Tax Shelters #301758

CBS Evening News for Monday, Feb 11, 1985
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(Studio) Ralph Nader research group's analysis of economy toll on nation of legal and illegal tax shelters reported; details given.
REPORTER: Dan Rather

(DC) Tax shelter investors noted include muppeteer Jim Henson, George Lucas, Red Auerbach; all mentioned investors in Manhattan realty scheme. [Tax accountant Andrew LANG - notes perception of many regarding taxes.] [Developer Tom TRAMONT - acknowledges not paying taxes.] Govt.'s purpose in establishing tax shelters and their current diversity described; econs. involved in using historic bldgs. as shelters explained, illustrated on screen. Tax analyst Vanita Van Kaspel recalled appearing on "Hour of Power" television show to promote shelters; scenes shown. [VAN KASPEL - considers tax avoidance patriotic.] [IRS spokesperson Philip COATES - notes size of IRS (Internal Revenue Service) penalty for many investors in disallowed shelters.]
REPORTER: Ray Brady

Reporter(s):
Brady, Ray;
Rather, Dan
Duration:
00:03:00

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