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We hear of KPMG and Enron and their organizers getting steep penalties
and prison time for their involvement with fraudulent and unlawful
conduct in company operations. Tax shelters have become so commonly
widespread and abusive that Congress and the IRS had to take action. New
provisions had to be implemented that include hefty penalties and new
ethical standards and guidelines had to be imposed for attorneys, CPAs,
enrolled agents, actuaries and tax professionals regarding proper tax
advice to taxpayers. |