New York (Aug. 30, 2004) -- A Senate subcommittee has revealed internal e-mail messages showing that KPMG reportedly discussed selling a new tax shelter similar to one that was banned more than two years earlier by the Internal Revenue Service, according to published reports about the newly disclosed internal e-mail messages.

KPMG is under scrutiny by the Internal Revenue Service and the Justice Department for its past promotion of abusive tax shelters. The Montvale, N.J.-based firm also faces a federal grand jury investigation in Manhattan and several investor lawsuits related to its past shelter activities.

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