Ex-KPMG execs seeks dismissal of tax shelter charges

Ex-KPMG execs seeks dismissal of tax shelter charges

Ex-KPMG executives have requested the charges in their tax shelter trial be dismissed

Two former KPMG executives have requested tax shelter charges against them be
dismissed or a mistrial declared in a test case which has been closely watched
by legal experts because its outcome could affect the US government’s continuing
investigations into questionable tax shelters.

Giving rise to the request was the US government’s change of theory mid-trial
for indicting former KPMG tax partner Robert Pfaff and former senior tax manager
John Larson,
Reuters
reports.

According to the defence motion, during the trial, prosecutors elicited
testimony from a witness accusing the men of concealing information from KPMG
and its tax department to obtain KPMG approval for BLIPS, a type of tax shelter.

‘The new government allegations transform a tax fraud conspiracy with KPMG
against the IRS into an honest services fraud conspiracy against KPMG,’ the
defense motion said.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In 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 resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource