Of Windmills, Cattle and Form 1040

Booming tax shelters give rise to demands for reform

To millions of American taxpayers, the only big tax shelters are the ones they live in: they can deduct the interest they pay on their mortgages from their income. But to those who can afford the high price of getting in, tax shelters can be anything from Holstein cattle to windmills and even roadside billboards.

Such deductible investments have become a headache for the Internal Revenue Service. In all, they represent investments of an estimated $50 billion and can cost the Government billions of dollars annually...

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