Investors in solar tax shelters owe the IRS.
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About 6,000 people who bought $42 million of would-be solar tax shelters from Irvine-based Southwest Solar Products now face about $70 million in taxes and penalties levied by the Internal Revenue Service. A group of 2,000 investors, many from California, have filed a lawsuit against Southwest, its principals and others involved in the tax-shelter operation. Last August, the IRS went to court to prevent the company from selling any more investments.
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