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BLIPS
BLIPS is an acronym for ''Bond Linked Issue Premium Structure'', or ''Bond Linked Investment Premium Strategy''. It is a type of tax shelter involving investors who take out bank loans that the government considers illegitimate. These loans are then shifted to partnerships to claim tax losses.〔Lynnley Browning, Judge Rules a Tax Shelter in KPMG Case Is Legitimate, NY Times, July 21, 2006.〕
BLIPS are invalid in the eyes of the Internal Revenue Service (IRS).〔''Vaughn v. United Sates IRS'', 765 F.3d 1174, 1177 (10th Cir. 2014).〕
==History==
BLIPS represent one of four abusive tax shelters that the Senate Permanent Subcommittee on Investigations investigated in 2003. The Subcomittee found that KPMG had sold to at least 350 people from 1997 to 2001, earning fees of $124 million. Those shelters cost the Treasury at least $1.4 billion in unpaid taxes, according to the subcommittee. In the investigation, KPMG argued that investors knew they were taking a risk that the IRS might not accept the claims.〔''Becnel v. KPMG LLP'', 387 F. Supp. 2d 984, 2005-2 U.S. Tax Cas. (CCH) paragr. 50,573 (W.D. Ark. 2005) (Federal court had subject matter jurisdiction, based on "substantial federal question," in connection with controversy removed from Arkansas state court to Federal district court).〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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