The Second Circuit Court of Appeals upholds the tax shelter related convictions of a KPMG parter & manager and the conviction of Sidley Austin partner R.J. Ruble.
Read the opinion here:
U.S. v Pfaff, No. 09-1702 (August 27, 2010)
Tag Archives: KPMG
District Court: Tax Effect of a Son of Boss Transaction Denied
In a lengthy opinion, the United States District Court for the District of Massachusetts disallowed the tax benefits accruing from a Son of Boss transaction promoted by KPMG and entered into by the former U.S. Ambassador to Ireland, Richard Egan.
Fidelity International Currency Advisor A Fund, LLC v. United States, Docket 05-40151 et. al. (D. Mass May 17, 2010)
District Court: KPMG Transaction Lacked Economic Substance
Mississippi District Court finds that FOCus transaction was a series of steps lacking in economic substance and comprising an abusive tax shelter. Penalties imposed.
Nevada Partners Fund LLC v. United States, No. 3:06cv379-HTW-MTP (S.D. Miss., Apr. 30, 2010)