TaxPersonal TaxJudge to hear dispute over tax shelter documents

Judge to hear dispute over tax shelter documents

KPMG tax shelter case heats up

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
the case.

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
non-prosecution agreement.

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.

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

3d Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter