IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Lost in Translation: Detecting Tax Shelter Activity in Financial Statements

Listed author(s):
  • McGill, Gary A.
  • Outslay, Edmund
Registered author(s):

    Whether financial statements of public U.S. corporations provide sufficient information to the public to determine a corporation's tax payment to the U.S. Treasury and its involvement in "tax shelter" transactions has been much debated since the well publicized collapses of Enron Corporation and WorldCom, Inc. In this paper, we use specific examples to demonstrate how "income tax note" data can be analyzed to answer these two questions and, in so doing, point out the limitations of using financial accounting information to address tax–related issues. We conclude with suggestions to increase the transparency of a corporation's tax activities through enhanced disclosure.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    Article provided by National Tax Association in its journal National Tax Journal.

    Volume (Year): 57 (2004)
    Issue (Month): 3 (September)
    Pages: 739-756

    in new window

    Handle: RePEc:ntj:journl:v:57:y:2004:i:3:p:739-56
    Contact details of provider: Postal:
    529 14th Street NW Suite 750, Washington DC 20045

    Phone: (202)737-3325
    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ntj:journl:v:57:y:2004:i:3:p:739-56. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ann Crampton)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.