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KPMG Named in MCI Case

KPMG could be facing trouble again as a result of its tax-shelter business.

> > The SEC is investigating state tax shelters that KPMG designed for MCI. The SEC has asked for information about a shelter designed by the Big Four accounting firm that enables MCI, formerly known as WorldCom, to shift revenue among states to lower its taxes. A federal judge ruled that KPMG must furnish the IRS with the names of participants in a number of shelters and must produce related documents.
Source: CFO


Published:2004-06-09
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