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.
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
The SME community voices concern about the chancellor's measures in the Spring Budget
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals
One of the bigger announcements of the final Spring Budget is the raising of Class 4 NICs for the self-employed