The IRS has reached a settlement with Arnold & Porter, a law firm which
has subsequently paid an undisclosed penalty after admitting to the promotion of
It’s alleged between the periods of 2000 and 2002 the law firm failed to
comply with tax shelter registration requirements.
In addition, Arnold & porter also participated in organizing three types
of listed tax-shelter transactions which it then sold to high net-worth
individuals and corporations.
Ernst & Young has also been caught up in the dispute over compliance with
tax shelter registrations.
Peter Cinquegrani, a former partner at Arnold & Porter, and employees of
Ernst & Young designed tax shelters and a legal opinion to support it,
Following the settlement of the case, the IRS said the law firm has since
implemented a suitable compliance program.
Vernon Dennis of Howard Kennedy LLP explores recent and future challenges affecting the insolvency sector
Report argues that the government must change the way it makes tax and budget decisions
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team