David Rivkin, a former KPMG tax partner, has pled guilty to conspiracy and
tax-evasion in relation to his work on allegedly phoney tax shelters for nine
Rivkin entered his plea in a New York court and faces up to five years in
jail, the Wall Street Journal reported.
He admitted to setting up the tax shelters by creating $235m (£134m) in
phoney tax losses helping his clients avoid paying taxes to the Inland Revenue
Services from 1999 to 2000. The deal increases pressure on the other 18
defendants scheduled to go to trial in the case.
Last year KPMG reached settlement with government prosecutors paying $456m
(£261m) in a deal that allowed the firm to avoid criminal indictment.
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