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May 23, 2007
Sidley Austin to Pay $39.4m Penalty in Tax Shelter Case, DOJ Drops Criminal Charges
The IRS announced today that it has reached a settlement with the law firm of Sidley Austin the successor firm of the merger in 2001 between Sidley & Austin and Brown & Wood, which has paid a civil tax shelter promoter penalty of $39.4 million. The penalty stems from the firm’s promotion of abusive tax shelters and a failure to comply with tax shelter registration requirements. In addition, Michael J. Garcia, the U.S. Attorney for the Southern District of New York, announced today that he will not seek criminal charges Sidley Austin
- IRS Press Release (IR-2007-103)
- Sidley Austin Press Release
- SDNY Nonprosecution Agreement
- Wall Street Journal Coverage
May 23, 2007 in New Cases | Permalink
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» SIDLEY SETTLES; KPMG AVOIDS TRIAL ON FEES from Roth & Company, P.C.
Yesterday saw two developments in the ongoing tax shelter court battles. Legal giant Sidley & Austin settled charges of promoting... [Read More]
Tracked on May 24, 2007 8:53:34 AM
