Newswatch

Kroger here reportedly paid a settlement to the Internal Revenue Service after federal authorities revealed it had taken millions in deductions through a bogus tax shelter. According to U.S. Department of Justice, Kroger claimed more than $178 million in loss deductions between 2002 and 2004 through a tax shelter known as the Sale Leaseback of Tenant Improvements

KROGER SETTLES TAX-FRAUD PROBE

CINCINNATI — Kroger here reportedly paid a settlement to the Internal Revenue Service after federal authorities revealed it had taken millions in deductions through a bogus tax shelter. According to U.S. Department of Justice, Kroger claimed more than $178 million in loss deductions between 2002 and 2004 through a tax shelter known as the Sale Leaseback of Tenant Improvements Strategy (SLOTS), causing more than $64 million in tax losses to the IRS.

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