It emerged this week that the trial of Raymond J. Ruble (also known as 'R.J.'), a former Sidney Austin partner has begun this week with the jury selection process.
Earlier this year, it was announced that the Internal Revenue Service had reached a settlement with the law firm of Sidley Austin LLP (the successor firm of the merger in 2001 between Sidley Austin and Brown & Wood LLP), which had paid a civil promoter penalty of $39.4 million.
This penalty stems from the firm's promotion of abusive tax shelters and a failure to comply with tax shelter registration requirements.
However, the US government decided not to prosecute the firm, because tax shelter work was primarily carried out by a single person between 1996 and 2003, namely former partner and tax lawyer, Ruble.
The trial is expected to last up to five months.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment