KPMG to fight former partners

KPMG to fight former partners

Tax case in US turns even nastier

The lawyer for KPMG said the Big Four firm would fight efforts to force it
pay the legal fees of former partners involved in the US tax shelter case.

The 16 partners, who are accused of setting up illegal tax shelters for
wealthy investors, have launched a lawsuit aimed at forcing the firm (and their
former employer) to pay their legal fees.

But Robert Bennett, KPMG’s lawyer,  told a hearing in federal court in
Manhattan, that the firm planned to oppose the lawsuit filed earlier this week.

Reuters reported Bennett as saying that KPMG ‘has no legal obligation to pay
these fees’ nor does the firm have any intention of paying them.

Prosecutors have charged the former KPMG tax partners and two other
individuals with conspiracy and tax evasion, alleging they participated in a
scheme that allowed wealthy people to avoid paying billions of dollars in taxes
to the Internal Revenue Service.

The case is expected to go to trial in September.

Related Articles

CogitalGroup announces acquisition of Wilkins Kennedy

Accounting Firms CogitalGroup announces acquisition of Wilkins Kennedy

7d Emma Smith, Managing Editor
Blick Rothenberg acquires Westleton Drake

Accounting Firms Blick Rothenberg acquires Westleton Drake

2w Emma Smith, Managing Editor
IR35 in 2018: what do accountants need to know?

Accounting Firms IR35 in 2018: what do accountants need to know?

2w SJD Accountancy | Sponsored
Top 50+50 UK Accountancy Firms 2018 – entries now open!

Accounting Firms Top 50+50 UK Accountancy Firms 2018 – entries now open!

3w Emma Smith, Managing Editor
It’s not just the potential of women at stake, it’s the potential of accountancy

Accounting Firms It’s not just the potential of women at stake, it’s the potential of accountancy

4w Jean Stephens, RSM International
PwC to net £50m from Carillion insolvency

Accounting Firms PwC to net £50m from Carillion insolvency

1m Alia Shoaib, Reporter
Mercer & Hole makes two new appointments

Accounting Firms Mercer & Hole makes two new appointments

2m Emma Smith, Managing Editor
Sexual harassment – is accountancy next for #MeToo?

Accounting Firms Sexual harassment – is accountancy next for #MeToo?

2m Karen Baxter, Lewis Silkin