Memo to tax collector: individuals are less profitable that corporations

From New York Times Online :: “Corporate profits reported to the I.R.S. in 1998 were $155 billion less than those reported to shareholders, according to Mihir A. Desai, a Harvard economist. His study and others suggest that tax shelters may be the primary reason for this difference, which is costing the government as much as $54 billion in taxes each year.” That surely will tweak the melons of those individuals who are audited!