Tax-Shelter Trial Of Ex-Sidley Austin Partner Begins
by Mike Godfrey, Tax-News.com, Washington
10 October 2007
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.
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