Judge 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.

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