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tax loophole

tax loophole in Culture

tax loophole definition

A provision in the laws governing taxation that allows people to reduce their taxes. The term has the connotation of an unintentional omission or obscurity in the law that allows the reduction of tax liability to a point below that intended by the framers of the law.

The New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Historical Examples
  • For that matter, the usual form of tax relief on agricultural land can be used as a tax loophole by speculators.

    The Nation's River United States Department of the Interior

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