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Wednesday, 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

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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 5:53:34 AM

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