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Text of IRS Notice 2006-65: Excise Taxes for Participating in Prohibited Tax Shelter Transactions (PDF)
Internal Revenue Service [IRS] Link to more items from this source
[Official Guidance]
July 11, 2006
8 pages; applies to tax-exempt organizations, including tax-qualified pension plans and IRAs. Excerpt: The managers of these entities, and in some cases the entities themselves, can be subject to excise taxes if the entity is a party to a prohibited tax shelter transaction. Prohibited tax shelter transactions include transactions that are identified by the [IRS] as potentially abusive 'listed' tax avoidance transactions ...

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