Blips, or Bond Linked Issue Premium Structure, or Bond Linked Investment Premium Strategy, is a type of tax shelter. "It involves investors taking out bank loans, which the government contends are not legitimate, and then shifting them to partnerships to claim tax losses." (Lynnley Browning, Judge Rules a Tax Shelter in KPMG Case Is Legitimate, NY Times, July 21, 2006).

Conflicts of minor importance that are resolved or disappear spontaneously. (Level 1 conflicts)