Bull’s eye on tax-shelter promoters

People who promote offshore tax havens and abusive tax shelters would face tougher sanctions under companion bills on Capitol Hill. S 681 and HR 2136 would impose up to a 150% penalty on profits made by investment or tax advisers and the like who aid clients in illegally sheltering assets. Currently, promoters face a 50% penalty. The House bill, which has the backing of 44 lawmakers, recently was referred to a subcommittee. For information on either measure, visit
http://thomas.loc.gov