IRS suspends tax shelter penalty for some small businesses while Congress changes law

WASHINGTON — The IRS has temporarily stopped collecting penalties from some small businesses that have been hit with big fines for not disclosing the use of questionable tax shelters.

Lawmakers want IRS to suspend tax shelter penalty for small businesses while they change law

WASHINGTON — Some small businesses are being hit with big fines for not disclosing the use of questionable tax shelters to the IRS, an unintended consequence of a law aimed at corporations that use the shelters to avoid taxes.