TaxCorporate TaxPlea agreement likely in KPMG tax shelter case

Plea agreement likely in KPMG tax shelter case

Possible dismissal of a case against 16 former KPMG partners also an option

The
16 former KPMG partners
charged with creating and marketing fraudulent tax
shelters could see their marathon case come to an end soon with reports that US
district Judge Lewis
Kaplan
could be preparing the groundwork for a plea agreement or possible
dismissal of the case.

In a filing Judge Kaplan asked defense attorneys what sanctions other than
dismissal of the entire indictment are available, and what steps the government
could voluntarily take to remedy constitutional violations related to payment of
the former partners’ legal fees.

According to some legal experts, the questions indicate that the judge may
want the government and the former KPMG partners to reach a settlement.

‘This could be a subtle way of telling the government there’s still room for
you guys to cut a deal,” Anthony Sabino, a law professor at
St. John’s University’s Tobin College of
Business told Reuters.

Further reading:

KPMG tax shelter judge ‘can throw case out of court’

KPMG tax shelter case postponed ‘indefinitely’

KPMG and ex-partners square off in US

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

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
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson