Tuesday, March 02, 2010

The emergence of abusive tax shelters

We just stumbled across this, which looks interesting, although we haven't read the book (it isn't published till next year.) The first paragraph of the blurb reads:

"The book describes the historical, economic, and organizational forces that gave rise to the abusive tax shelter market in the United States between 1994 and 2004. After tracing the macro-factors – including the state of tax law enforcement, the booming economy, and the highly competitive atmosphere in which accounting and law firms were operating in the 1990’s – the book will offer a detailed account of the role of the high-profile organizations and individuals that spearheaded the rise of the abusive shelter industry. The accounting firms involved include KPMG, which ultimately paid close to a half billion dollar fine and entered into a deferred prosecution with the federal government; Ernst & Young, four of whose partners were convicted last spring of tax fraud; and BDO Seidman, whose former chair and other principals are currently under indictment."

It's called Confidence Games: Lawyers, Accountants and the Tax Shelter Industry (MIT Press, 2011). One thing the book aims to do, it says, is

"to illuminate how professionals working in organizations frame their knowledge and ethical and legal responsibilities."

Very interesting . . . . . Read more here.


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