TaxProf Blog

Editor: Paul L. Caron
Pepperdine University School of Law

A Member of the Law Professor Blogs Network

Wednesday, October 10, 2007

Law Firm Files First $1 Billion Tax Whistleblower Submission with IRS

The Ferraro Law Firm (Miami, FL & Washington, D.C.) has announced that it has filed the first $1 billionTax Whistleblower submission to the newly created IRS Whistleblower Office:

The submission involves a Fortune 500 company that entered into a series of transactions to improperly reduce its taxes by over $1 billion. The company was represented by Ernst & Young LLP, an established law firm and multiple name-brand banks. The identity of the whistleblower is strictly confidential to protect the individual and the identities of the law firm, banks and company are confidential at this stage to aid in the evaluation of the submission. This submission comes after an E&Y employee pled guilty to one count of conspiracy to commit tax fraud, and four E&Y tax partners have been indicted for their role in the sale of fraudulent tax shelters.

http://taxprof.typepad.com/taxprof_blog/2007/10/law-firm-files-.html

IRS News, News | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341c4eab53ef00e54f0941ee8834

Listed below are links to weblogs that reference Law Firm Files First $1 Billion Tax Whistleblower Submission with IRS:

» Got corporate tax lawyers? from What About Clients?
Hull McGuire has four such creatures. If your firm does, tell them visit Paul Caron's TaxProfBlog. Established, well-travelled and easy to read, TPB daily covers tax and related business news in a format even non-tax professionals like. WSJ calls it... [Read More]

Tracked on Oct 10, 2007 9:40:15 PM

Comments