U.S. Targets Nonprofits That Aid Tax Shelters (washingtonpost.com)

U.S. Targets Nonprofits That Aid Tax Shelters (washingtonpost.com): "U.S. Targets Nonprofits That Aid Tax Shelters
Groups Abuse Exempt Status, IRS Says
By Albert B. Crenshaw
Washington Post Staff Writer
Friday, February 11, 2005; Page E05
The Bush administration, Congress and the Internal Revenue Service are proposing new initiatives to crack down on tax-exempt organizations' involvement with tax shelter schemes.
In recent years, some pension funds, charities and state or local government entities have, in effect, rented out their exemptions to wealthy individuals and corporations. Such shelters commonly are deals in which income is credited, at least on paper, to the tax-exempt entities, while losses flow to the taxable people or businesses. "