Monday, December 22, 2008

IRS enforcement shift seen after KPMG case says the outcome of the KPMG tax shelter case could mean "the direction of government tax-shelter enforcement in both personal and corporate cases may change."

One tax attorney said, "We've been dealing with these personal shelters for a decade now, and the new wave appears to be through foreign bank accounts, where major financial institutions have potentially facilitated the sheltering."

See "KPMG tax-shelter case is mixed-win for U.S."