tax shelter

Wyden first proposed an overhaul of IRA rules to prevent the accounts from being used as large tax shelters several years ago.

ProPublica reported Thursday that the Roth IRA, a retirement vehicle originally intended to spur middle-class savings, was being hijacked by the ultrawealthy and used to create giant onshore tax shelters.

About a decade after the creation of the Roth, Congress made it even easier to turn the accounts into mammoth tax shelters.

Thiel’s unusual stock purchase risked running afoul of rules designed to prevent IRAs from becoming illegal tax shelters.

Surely, that would prevent the superrich from gaming the system to use Roths as tax shelters.