PracticeAccounting FirmsFormer KPMG partner in new tax shelter plot

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

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

Related Articles

BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

3d Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

5d Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

7d Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor
RSM announces two partner promotions

Accounting Firms RSM announces two partner promotions

2w Emma Smith, Managing Editor
Backsourcing: The latest accountancy trend?

Accounting Firms Backsourcing: The latest accountancy trend?

1m Pillsbury Winthrop Shaw Pittman