Posts tagged as:

KPMG

Deutsche Bank Settles Tax Shelter Case

22 December 2010

The IRS is on a tear with the big banks. First UBS, now Deutsche Bank (DB). The eight year investigation into UBS’ role in assisting US taxpayers commit tax fraud has been resolved and the tab isn’t as bad as originally feared. DB agreed to pay $553 million in fees and penalties; that amount represents [...]

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Former Jenkens & Gilchrist Tax Attorneys Indicted

10 June 2009

I know, I know. This doesn’t even feel like news. We’ve seen it coming for awhile now, ever since this little gem appeared on the Jenkens & Gilchrist web site in 2007: At the time of the closing, Jenkens agreed to pay a civil penalty of $76 million and cooperate with the IRS and the [...]

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Top Ten Tax Stories of 2008: The World According to taxgirl

31 December 2008

It’s time for our annual review! Here are my picks for the top stories on taxgirl.com for the year: 10, Dancing With The Stars champ and race car driver Helio Castroneves is indicted on federal tax evasion charges. In a related story, my mother is stricken with grief and may never samba again (okay, I’m [...]

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Feds Finally Get (Some of) Their Men: 3 KPMG Defendants Convicted

18 December 2008

It had been billed as the “largest tax fraud ever” by the feds and the trial was set to teach those that set up illegal tax shelters a lesson. And then it all went very, very badly. Defendants in the case asked the judge to throw out the charges against them when it was revealed [...]

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KPMG Defendants File for Mistrial

25 November 2008

I’m not a trial lawyer. In fact, there are many, many things that I’d prefer to do than be lead counsel at a trial: sleep on a bed of nails, summer in the swamps of Louisiana, have dinner with Scarlett Johansson (I have a hate/hate thing for her)… Get the picture? With that, I try [...]

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KPMG Tax Trial Juror Dismissed, Annoys Judge

16 October 2008

I can’t wait for Hollywood to see the potential in this KPMG tax shelters mess. I predict movie gold! There’s nothing waiting in the wings yet (so far as I know) but the live coverage is just as good. After declaring the KPMG lead tax evasion scandal as the “largest tax fraud ever“, overzealous prosecutors [...]

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KPMG: Another One Bites the Dust

12 September 2007

Somewhere, David Makov is glad that he didn’t spend the extra dollar on a Powerball ticket. His luck has officially run out. Despite the fact that many of those charged in the KPMG scandal were let off the hook due to over-zealous prosecution, Makov, is one of the five remaining defendants in the case. Rather [...]

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The Largest Tax Fraud Ever… Over?

17 July 2007

Wow. And just like that, the largest criminal tax case in the US is over. Well, for now. Judge Lewis A. Kaplan, of Federal District Court in Manhattan, has dismissed the charges against thirteen defendants (Randy Bickham, Larry DeLap, Jeffrey Eischeid, Steven Gremminger, Carl Hasting, John Lanning, Gregg Ritchie, Richard Rosenthal, Richard Smith, Carol Warley, [...]

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What Could Be Bigger Tax News…

1 June 2007

than the “Largest Tax Fraud Ever“? News that the Judge on the case is considering throwing it out. Defendants in the case have asked Southern District of New York Judge Lewis Kaplan to dismiss the charges in the case, alleging a violation of civil rights. In response, Judge Kaplan has advised that the defendants have [...]

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Sidley Austin Lives to See Another Day

23 May 2007

…Unlike Jenkens Gilchrist, which folded after being hit with penalties related to tax advice involving tax shelters that the Internal Revenue Service found to be abusive. The IRS announced today that it has reached a settlement with the law firm of Sidley Austin LLP, the successor firm of the 2001 merger between Sidley & Austin [...]

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