The judge in the billion dollar tax shelter case involving 16 former partners
at KPMG will on Monday hear claims from a lawyer representing the firm’s former
deputy chairman Jeffrey Stein that he make public certain documents relating to
David Spears, a lawyer for Stein, has asked the federal judge to make public
documents related to the KPMG’s decision not to pay legal fees to its former
partners facing criminal charges over its tax shelter scheme.
Spears claimed the documents are key to the issue of whether prosecutors put
undue pressure on KPMG to not advance attorneys’ fees to avoid violating a
Last August, KPMG agreed to pay $456m (£246m) to the government to defer
prosecution over the design and marketing of certain tax shelter schemes.
Prosecutors claim the scheme allowed wealthy people to avoid paying $2.5bn
(£1.35bn) in taxes to the Internal Revenue Service.
The case is expected to go to trial in September.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy