U.S. Accuses KPMG of Stalling IRS Probe
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U.S. regulators have accused accounting firm KPMG of stalling an Internal Revenue Service probe by hiding the full extent of its role in creating dubious tax shelters for clients.
The Justice Department said in a filing in federal court in Washington that KPMG delayed handing over documents and hid its tax shelter activities by refusing to register potentially abusive tax shelters with the IRS.
KPMG said it has produced more than 680 boxes of documents totaling more than a million pages and has cooperated fully with the IRS by providing numerous KPMG witnesses.
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