The committee heard testimony about illegitimate tax shelters. Senator Levin testified about his experiences working to curb abusive tax shelters.

A panel of witnesses testified about tax shelter scams that they knew about. Some of them were allegedly fired for revealing illegal tax shelters to the Internal Revenue Service and were also being sued. One witness, a former leasing executive, was not identified for fear of legal liability. He was referred to as “Mr. Janet,” and testified from behind a screen with voice distortion.

A panel of government tax officials testified about efforts to crack down on certain kinds of abusive tax shelters. Topics included investment schemes, deceptive auditing, foreign partnerships, and more.