{"id":161,"date":"2007-02-18T22:12:04","date_gmt":"2007-02-19T06:12:04","guid":{"rendered":"http:\/\/www.onecle.com\/blog\/2007\/02\/18\/investing-in-a-tax-shelter\/"},"modified":"2007-02-18T22:12:04","modified_gmt":"2007-02-19T06:12:04","slug":"investing-in-a-tax-shelter","status":"publish","type":"post","link":"https:\/\/www.onecle.com\/blog\/2007\/02\/18\/investing-in-a-tax-shelter\/","title":{"rendered":"Investing in a Tax Shelter"},"content":{"rendered":"<blockquote><p><strong>San Jose Mercury<\/strong>: <a href=\"http:\/\/www.siliconvalley.com\/mld\/siliconvalley\/16712649.htm\">Tech Execs Sue Over Tax Shelter<\/a>. Five Silicon Valley executives &#8212; including four with ties to Cisco Systems &#8212; are suing Ernst &#038; Young, claiming the Big 4 accounting firm peddled them a tax shelter that left them owing millions of dollars in taxes, penalties and damages.  The five men invested more than $50 million total, a sum that the Internal Revenue Service estimates would generate $150 million in tax losses.<\/p><\/blockquote>\n<p>Invest in a company I get.  Invest in real estate I get.  But, invest in a tax shelter?  Huh?  I&#8217;m not sure invest is the right word to use.  At least, unless people are investing at the craps table in Vegas as well.  <a href=\"http:\/\/contracts.onecle.com\/centigram\/puette-emp-1997-10-24.shtml\">Robert L. Puette<\/a> &#8220;invested&#8221; $6,666,667 in the tax shelter.  Couldn&#8217;t find any contracts involving the other &#8220;investors&#8221; though.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>San Jose Mercury: Tech Execs Sue Over Tax Shelter. Five Silicon Valley executives &#8212; including four with ties to Cisco Systems &#8212; are suing Ernst &#038; Young, claiming the Big 4 accounting firm peddled them a tax shelter that left them owing millions of dollars in taxes, penalties and damages. The five men invested more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[12],"tags":[],"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/posts\/161"}],"collection":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/comments?post=161"}],"version-history":[{"count":0,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/posts\/161\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/media?parent=161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/categories?post=161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.onecle.com\/blog\/wp-json\/wp\/v2\/tags?post=161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}