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Sarbanes-Oxley News & Developments
Grand Jury Investigating KPMG Tax SheltersKPMG helps wealthy escape federal taxes.
> > KPMG may have made millions helping corporations and wealthy individuals escape at least $1.4 billion in federal taxes. From 1997 through 2001, KPMG collected $124 million in fees for tax shelters. Regulators are looking into the alleged scheme as the number of lawsuits by clients whose shelters failed continue to mount. No subpoenas have been issued, which would indicate that the inquiry is in its early stages.
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Source: CFO
Published:2004-02-24
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