Dubious Deductions

We all love a good tax loophole -- as long as we're the ones benefiting. And there have been some doozies. To celebrate the 150th anniversary of the IRS on July 1, we took a stroll down memory lane to highlight some of the most egregious loopholes that have found their way into the U.S. tax code.

Investopedia defines a loophole as "a technicality that allows a person or business to avoid the scope of a law or restriction without directly violating the law. ..." The following are some of the worst or best loopholes in tax history, depending on your point of view.