ATS

(redirected from Abusive tax shelter)
Also found in: Financial.
AcronymDefinition
ATSApplicant Tracking System
ATSAsian Test Symposium
ATSAutomatic Transfer Switch
ATSAgainst The Spread (sports betting term)
ATSAmerican Thoracic Society
ATSAssociation of Theological Schools
ATSAlternative Trading System
ATSArrow Truck Sales (various locations)
ATSAmerican Tribal Style (belly dancing)
ATSAbove Top Secret (conspiracy forum)
ATSAdvanced Technology Services (Peoria, IL)
ATSAir Technology Systems (various companies)
ATSAnswer to Select (telecommunications)
ATSAnderson Trucking Service (St. Cloud, MN)
ATSAutomated Targeting System
ATSAdvanced Technology & Services (France)
ATSAir Traffic Service(s)
ATSAutomatic Transfer Service (banking)
ATSAdvanced Technology Solutions (various locations)
ATSAmphetamine-Type Stimulants
ATSAccenture Technology Solutions
ATSAlliance Trust Savings (UK)
ATSAnnals of Thoracic Surgery (journal)
ATSAcross the Street
ATSAntarctic Treaty Secretariat
ATSAlternative to Suspension (various organizations)
ATSAnti Terrorist Squad (India)
ATSAmerican Traffic Solutions, Inc. (Scottsdale, AZ)
ATSAirport Transfer Service (various locations)
ATSAdventist Theological Society (est. 1988)
ATSApprenticeship Training Scheme (India)
ATSApache Traffic Server (software)
ATSAcademic Technology Support
ATSAcademic Technology Services (various schools)
ATSAlliance Theological Seminary (Nyack, NY)
ATSAdvanced Technology Systems
ATSAgence Télégraphique Suisse (Swiss National News Agency)
ATSAssisted Technical Support
ATSAnalog Subscriber Outlet
ATSAutomatic Tuning System
ATSAnnual Technical Support
ATSAdministrative Terminal System
ATSAutomated Training Systems
ATSAutomobili Turismo Sport
ATSAnthem Technology Systems
ATSAudio Title Set
ATSAmerican Tract Society
ATSActive Torque Split
ATSAntarctic Treaty System
ATSAutomated Trading System (Securities and Exchange Commission national market system plan)
ATSAuxiliary Territorial Service
ATSAbstract Test Suite
ATSAmerican Trauma Society
ATSAsbury Theological Seminary (Wilmore, KY, Orlando, FL and online campus)
ATSAutomatic Test System
ATSAssistive Technology Specialist (various organizations)
ATSAuto Tuning Store (California)
ATSAutomatic Train Stop (railways)
ATSAir Traffic System
ATSApplications Technology Satellite
ATSAngel: The Series (TV show)
ATSAngel the Series (TV show)
ATSAdvanced Thermal Solutions, Inc (Norwood, MA)
ATSAnnual Technical Symposium (American Institute of Aeronautics and Astronautics)
ATSAll Traffic Solutions (State College, PA)
ATSAdvanced Training System
ATSAutostrada Torino Savona (Italian: Turin-Savona Highway)
ATSAgri-Food Trade Service (Canada)
ATSAbusive Tax Shelter
ATSAutomatic Train Supervision (for rail signaling systems)
ATSAcross the Sea (Weezer song)
ATSAirport Transit System
ATSAdvanced Technical Support
ATSAircrew Training System
ATSAustralian Technology Showcase
ATSAutomatic Test Station
ATSAccess to Space (NASA program)
ATSApplied Technical Systems
ATSAdvanced Tissue Sciences (biotechnology)
ATSAviation Technical Services (SPAWAR, US Navy)
ATSAyudante Técnico Sanitario
ATSAssistive Technology Supplier (credential offered by Rehabilitation Engineering and Assistive Technology, RESNA)
ATSAdministrative Terminal System (IBM software)
ATSAverage Time Spent (advertising)
ATSAutomated Test System
ATSAarhus Tekniske Skole (Danish technical school)
ATSAmerican Transportation Systems (various locations)
ATSAmerican Travel Services (Austin, TX)
ATSAnn Taylor Stores (clothing)
ATSAmerican Terrorism Study
ATSAutomated Tracking System
ATSActive Tree Services (Australia)
ATSAction Tracking System
ATSAllowance Tracking System (air quality)
ATSApplicant Testing Services (London, ON, Canada)
ATSAustrian Shilling (former currency code; now EUR)
ATSAmerican Turkish Society
ATSAutomatic Trading System
ATSAdvanced Transportation Systems
ATSAssign Terminal Service (US DoD)
ATSAndersen-Tawil Syndrome
ATSAgenzia Telegrafica Svizzera (Swiss National News Agency)
ATSAdvanced Turbine System
ATSAir Turbine Starter
ATSApple Terminal Services
ATSAvailable to Ship
ATSAir Transport Squadron
ATSAdvanced Tracking System (AN/GYQ-51; USAF radar data processor)
ATSAdvanced Technology Satellite
ATSAutomatic Transmission System
ATSAutomatic Targeting System
ATSApplication Test Suite (Novell)
ATSAmphetamine Type Substance
ATSAssociation Technique de la Sidérurgie (French: Steel Technical Association)
ATSAttendance Tracking System
ATSAdaptive Tape Speed
ATSAverage Travel Speed (highway capacity, civil engineering)
ATSAccount Technology Specialist
ATSApproval to Start
ATSAudit Tracking System
ATSAdvanced Test Server (gaming)
ATSAlport Syndrome, X-Linked
ATSAutotransfusion System
ATSAutomatic Throttle System
ATSApplied Technology Satellite
ATSArterial Tortuosity Syndrome
ATSAthens Transit System (Athens, GA)
ATSAbsolute Time Sequence
ATSAdvanced Telemetry System
ATSAutomated Transport System
ATSAeronautical and Technical Services (Canada; Mapping Services Branch)
ATSAmerican Trudeau Society (now American Thoracic Society)
ATSAcceptance Test Specification
ATSAutomated Travel System
ATSAssignment Tracking System
ATSAdapting to Scale
ATSAt the Suit of (legal documents)
ATSAuto Transmission Service (various locations)
ATSAuto Technisches Spezialzubehör
ATSAmerican Temperance Society
ATSAdvanced Topcoat System (US Office of Naval Research)
ATSAnalytic Trouble Shooting
ATSAdult Thumb Sucking
ATSAnomaly Tracking System
ATSAngry Tradewind Survival (Magic: The Gathering Legacy Deck Archetype)
ATSAutomated Technical Systems (Windsor, ON, Canada)
ATSAcquisition Tracking System
ATSAntitetanic Serum
ATSSalvage & Rescue Ship
ATSAutomatic Traffic Signals
ATSAccelerator Test Stand
ATSAeronautical Telecommunications Services
ATSAdvanced Tactical Support
ATSAirman Training School
ATSAdherence to Schedule (logistics)
ATSAverage Transaction Size
ATSAutomated Training System
ATSApprentice Training School
ATSAutomated Telemetry System
ATSAuthorization to Ship
ATSAssault Terror SWAT (gaming clan)
ATSAgilent Technologies Singapore
ATSAthene Tactical System (Canadian Land Force Command and Control application)
ATSApplication Tuning System
ATSAssigned Time Slot
ATSAnalog Test Station
ATSAdvanced Transport System
ATSAutomatic Tray Sleever (US Postal Service)
ATSAutomated Tasking System
ATSAutomated Test Setup
ATSAir Time Sales (advertising/broadcast industry)
ATSAutomated Tuning System
ATSAutomated Timekeeping System
ATSAfloat Telecommunications Service
ATSArmy Training Strategy
ATSAscension Tracking Station
ATSAnnual Training Site
ATSAdvanced Threat Simulator
ATSAcademic Trainer System
ATSAttitude Transfer System
ATSApplications Test Satellite
ATSAerothermal Structure
ATSAssistance Technique Spécialisée (French: Specialized Technical Assistance)
ATSAutomated Test Sets
ATSAdministrator's Tracking System (EPA)
ATSAmerican Television Society
ATSAutomatic Transfer Stand
ATSAmmunition Tracking System
ATSAssembly Truss Structure
ATSAgency Training System
ATSArmy Telecommunications System
ATSActive Thermal System
ATSArmy Topographic Station
ATSAlternate Termination Sequence (AT&T)
ATSAcquisition Track Sensor
ATSAutomatic Telecommunication System
ATSAdaptive Troubleshooting System
ATSAtlantic Test Site
ATSAmphibious Tracking System
ATSAction Tracking Strategy
ATSAnti-terrorist Swat (gaming clan)
ATSAgreed Time Scale
ATSAccounting Terminal System
ATSAssociated Transcription Services, Inc
ATSAsil Technical Services
ATSAnti-Theft Status (signal)
ATSAutomatic Trip Stop (rail systems signaling system)
ATSAMDCCS Tactical Support
ATSAssistance Technique Soudage (French: Welding Technical Assistance; est. 1994)
ATSAppalachian Truth Seekers (est. 2010)
ATSAutomatic Test Sets
ATSAtelier Technique Scène (French sound and lighting company; est. 1989)
ATSAuto Transformer Starting
ATSAnterior Teeth Selection
ATSApplications Technologies Systems
ATSAutomated Terminal System
ATSAutomated Test Scheduler
ATSAutomatic Trunk Synchronizer
ATSAlternative Test System
ATSAHLTA Training System
ATSAquatic Therapy Symposium
ATSAlarm Termination Subsystem
ATSAdaptive Tactics Server (programming)
ATSAviation Training Ship (UK)
ATSTerminal System Availability
ATSAutomatic Telex System
ATSApplique Traceability System
ATSAutomatic Torque System
ATSArmy Test Site
ATSAmalgamated Taxis Services (UK)
ATSAlltel Technology Services
ATSAdvanced Transportation Services, Inc (Visalia, CA)
ATSAtelier Tapisserie Sellerie (French: Tapestry Upholstery Workshop; Darnétal, France)
ATSAssociation Tennis de Savigné l'Evêque (French: Tennis Association Savigné l'Evêque; Savigné l'Evêque, France)
References in periodicals archive ?
The IRS considers such arrangements to be abusive tax shelters. To be considered legitimate insurance, there must be adequate risk shifting and risk distribution (see Rev.
During an audit of Textron's 1998-2001 tax cycle, the IRS discovered that Textron had engaged in a series of sale-leaseback transactions that the IRS alleged were substantially similar to the so-called SILO transactions that the IRS had "listed" as abusive tax shelters. In accordance with its audit policy, the IRS requested all of Textron's tax accrual workpapers.
108-357) introduced new rules for "material advisors" as a way for the IRS to counterattack abusive tax shelters. Last December, the IRS issued final regulations on amendments to Circular 230 that became effective June 21, 2005 (T.D.
Then they asked that the provisions to go after abusive tax shelter users and sellers be dropped.
A person determined to be a "material advisor" is required to maintain a list of investors for any transaction that is a "potentially abusive tax shelter." (18) For list maintenance purposes, a transaction is considered to be a "potentially abusive tax shelter" if it constitutes a "tax shelter" with the meaning of [section] 6111 of the Code or it otherwise has a potential for tax avoidance or evasion.
The Florida Bar Tax Section recently took a legislative position in opposition to what it calls "abusive tax shelters."
Using the example of E & Y, we could look at the guides for professional tax practice, the published letter from the AICPA regarding the AICPA position on ethics and abusive tax shelters, and the Internal Revenue Code as indicators of authenticity for the community of tax planners.
The Treasury Department has also called on Congress to pass into law the "doctrine of economic substance." This doctrine was created by a 1935 Supreme Court Case and is sometimes used by judges to rule against blatantly abusive tax shelters. This doctrine holds that if a transaction superficially follows all the rules but is lacking economic substance and is designed to produce tax savings not intended by Congress, it can be regarded as a sham and disallowed (Novack & Saunders, 1998).
To avoid the probably limited effect of the [sections] 6111 temporary and proposed regulations, the [sections] 6112 temporary and proposed regulations use a modified version of the [sections] 6111 confidential corporate tax shelter definition to define "potentially abusive tax shelter." Specifically, the regulations "include [] a transaction for which a significant purpose of the structure of the transaction is the avoidance or evasion of Federal income tax," but do not require confidentiality or $100,000 in promoters' fees.(156)
The AICPA is correct that one standard of independence is that taxpayers should be able to rely on opinions by their "regular tax advisors." (99) The remedy for solving the abusive tax shelter problem should not have the ancillary effect of making it impossible for a taxpayer to reasonably rely on the opinion of the taxpayer's CPA or attorney.
What is the amount of penalty for promoting the abusive tax shelter after the 2004 Act?
Obviously, written advice regarding a transaction under audit or in litigation should not be burdened with the application of rules designed to discourage tax practitioners from providing abusive tax shelter opinions for penalty avoidance purposes.