/ Thesaurus / T Synonyms of tax shelter Find synonyms for: Noun1. tax shelter, shelter, decrease, diminution, reduction, step-downusage: a way of organizing business to reduce the taxes it must pay on current earningsWordNet 3.0 Copyright © 2006 by Princeton University. All rights reserved. Related Content Daily Word Quiz: profiterole Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language