Washington (May 7, 2004) -- As part of its efforts to curb tax shelters, the Internal Revenue Service is urging taxpayers who invested in an abusive tax shelter known as "Son of BOSS" to accept a settlement offer -- or face more severe consequences later.

Son of BOSS, an offshoot of an earlier shelter called BOSS (bond and option sales strategy), was aggressively marketed by law firms, accounting firms and investment banks in the late 1990s and 2000 to companies and high-net-worth individuals, according to the IRS.

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