IRS suspends certain tax shelter enforcement through Sept. 30

07/8/2009 | JournalofAccountancy.com

IRS Commissioner Douglas Shulman has told a House Ways and Means subcommittee that the agency is suspending its collection-enforcement activities for some listed transactions through Sept. 30. Shulman says that the penalties under Section 6707A are too severe in some cases, and the suspension will give Congress time to modify them. However, Shulman says the principle of severe penalties for abusive tax shelters remains "critically important to the IRS."

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