Former KPMG partner in new tax shelter plot
A former KPMG partner has been charged with conspiracy by concealing fees for setting up tax shelters
A former KPMG partner has been charged with conspiracy by concealing fees for setting up tax shelters
Federal prosecutors in New York have charged a former partner at accounting
firm KPMG with conspiracy,
the former partner is accused of obstructing authorities by concealing fees he
and others received for setting up tax shelters.
Robert Pfaff, of Englewood, Colorado, who already faces a trial on unrelated
charges stemming from other tax shelters, faces court on new charges to defraud
the US and to commit tax evasion and wire fraud, and trying to obstruct and
impede the Internal Revenue Service,
Reuters
reports.
A two-count indictment filed in New York, reveals Pfaff and his
co-conspirators at a Saipan company in the western Pacific hid millions of
dollars in fees from tax shelter transactions by channeling the money into
Philippine bank accounts and distributing them between themselves.
Pfaff failed to report approximately $US3.75m (?1.85m) in income which he
received between 1993 and 2000 on his tax returns, according to the indictment.
Further reading:
Ex-KPMG adviser pleads guilty in tax shelter case
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThree years after accountancy group DJH Mitten Clarke launched, they have announced that they have rebranded to DJH. The DJH Mitten Clarke name reflec...
View articleStatic budgets outdated. Embrace agile budgeting for a smooth year-end close and adapt to changing markets. Read More...
View articleSaffery Champness's strategic rebrand to "Saffery" reflects a bold step towards aligning its historic values with a modern, innovative ethos, fosterin...
View articleSumer’s CEO Warren Mead believes accountants have a responsibility to champion smaller and medium-sized businesses and that successful entrepreneurs a...
View articleMid-market firms experience largest percentage increase in fee income in 2023, as consultancy services start to become leading income streams for the ...
View articleBaker Tilly International has today announced record global revenues of US$5.2bn for the financial year ended 31 December 2023, up 11% on the previous...
View articleWhilst Small and Medium Enterprises (SMEs) account for around half of the turnover in the UK private sector[1], our own AAT research shows that over a...
View articleGrant Thornton UK as confirmed the appointment of Malcolm Gomersall as its new Chief Executive Officer. Gomersall, who has been with the firm for over...
View article