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20 Mar 2008
Federal prosecutors in New York have charged a former partner at accounting firm KPMG with conspiracy, the former partner is accused of obstructing authorities by concealing fees he and others received for setting up tax shelters.
Robert Pfaff, of Englewood, Colorado, who already faces a trial on unrelated charges stemming from other tax shelters, faces court on new charges to defraud the US and to commit tax evasion and wire fraud, and trying to obstruct and impede the Internal Revenue Service, Reuters reports.
A two-count indictment filed in New York, reveals Pfaff and his co-conspirators at a Saipan company in the western Pacific hid millions of dollars in fees from tax shelter transactions by channeling the money into Philippine bank accounts and distributing them between themselves.
Pfaff failed to report approximately $US3.75m (₤1.85m) in income which he received between 1993 and 2000 on his tax returns, according to the indictment.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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