sham transaction
noun
: a transaction that is made to mislead or deceive others : a transaction having no economic effect that is made to create tax benefits
Note: The Internal Revenue Service may deny tax benefits for sham transactions.
Dictionary Entries Near sham transaction
Cite this Entry
“Sham transaction.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/sham%20transaction. Accessed 21 Dec. 2024.
Copy CitationLove words? Need even more definitions?
Merriam-Webster unabridged
Share