The Clinton Administration's recently released budget for the coming year contains proposals dealing with an overwhelmingly broad range of tax issues, including, just to name a few examples, retirement savings, financial products, international taxation, and the ubiquitous "simplification."
Although it is far too early in the highly political budget process to make any predictions about which of the 135 proposals made by the Administration will survive in some form, it is not too early to start focusing on one particular set of proposals. They deal with "tax avoidance transactions" and "corporate tax shelters" and seem designed to target the types of tax shelters discussed in the December 14, 1998 issue of Forbes.
