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Probe of tax shelters expands

Monday, July 15, 2002 | 9:46 a.m.

WASHINGTON -- Accountants, law firms and investment banks may be asked for documents in an investigation of tax shelters that has identified hundreds of politicians, executives and celebrity customers of KPMG LLP, the Internal Revenue Service's top lawyer said.

California Republican gubernatorial candidate Bill Simon Jr. and the brother of a Republican U.S. senator are among dozens of KPMG clients named in a summons filed in federal court seeking documents on shelters.

Chief Counsel B. John Williams said the IRS expects to issue other summonses to sellers of tax shelters when they refuse demands for details about their products. The KPMG case is the first time people have been named in publicly released court documents as the IRS examines tax shelters, the investment strategies or tax avoidance techniques that let corporations and individuals lower their tax liabilities.

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