Excerpt from General Explanation of the Tax Reform Act of 1976 (H. R. 10612, 94th Congress, Public Law 94-455) Congress believed that changes were needed to end the excessive tax deferrals provided by tax shelters, as well as the opportunity they provide to, in effect, convert ordinary income into capital gains. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.