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05-06-2004, 04:48 PM
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IRS Offers Tax Shelter Settlement
Federal tax officials have told investors in a widely used tax shelter to turn themselves in or face the full firepower of the IRS. In an unusual settlement offer announced Wednesday, the IRS said investors in a tax shelter known as "Son of Boss" have until June 21 to repay 100% of the taxes they owe, plus up to 20% in penalties. Tax shelter participants who don't accept the offer face penalties of up to 40% and possibly criminal prosecution, the IRS said... [read more at usatoday.com]
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