New York (June 17, 2004) -- A KPMG tax shelter declared abusive by the Internal Revenue Service last year generated at least $1.7 billion in tax savings for more than two dozen companies, according to published reports.
Internal documents from KPMG LLP, which marketed the shelter, list several large, well-known companies as using it, including Delta Air Lines, Whirlpool Corp., Clear Channel Communications Inc., WorldCom Inc., Tenet Healthcare Corp. and the U.S. units of AstraZeneca PLC and Fresenius Medical Care AG, The Wall Street Journal reported.
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