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Sidley Austin to Pay $39.4m Penalty in Tax Shelter Case, DOJ Drops Criminal Charges

Paul Caron

The IRS announced today that it has reached a settlement with the law firm of Sidley Austin the successor firm of the merger in 2001 between Sidley & Austin and Brown & Wood, which has paid a civil tax shelter promoter penalty of $39.4 million. The penalty stems from the firm’s promotion of abusive tax shelters and a failure to comply with tax shelter registration requirements.  In addition, Michael J. Garcia, the U.S. Attorney for the Southern District of New York, announced today that he will not seek criminal charges Sidley Austin

About the Author

Paul Caron Avatar
Paul Caron
Paul Caron was named Duane and Kelly Roberts Dean of Pepperdine University School of Law on June 1, 2017. Dean Caron joined the Pepperdine faculty in 2013 after serving as the Dorothy and Leonard Straus Distinguished Visiting Professor of Law in the spring semesters of 2010 through 2013. He served as Associate Dean for Research and Faculty Development at Pepperdine in 2015-2017. Before coming to Pepperdine, he was Associate Dean of Faculty and Charles Hartsock Professor of Law at the University of Cincinnati College of Law.
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2 responses to “Sidley Austin to Pay $39.4m Penalty in Tax Shelter Case, DOJ Drops Criminal Charges”

  1. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    SIDLEY SETTLES; KPMG AVOIDS TRIAL ON FEES

    Yesterday saw two developments in the ongoing tax shelter court battles. Legal giant Sidley & Austin settled charges of promoting…

  2. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    SIDLEY SETTLES; KPMG AVOIDS TRIAL ON FEES

    Yesterday saw two developments in the ongoing tax shelter court battles. Legal giant Sidley & Austin settled charges of promoting…

  3. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    SIDLEY SETTLES; KPMG AVOIDS TRIAL ON FEES

    Yesterday saw two developments in the ongoing tax shelter court battles. Legal giant Sidley & Austin settled charges of promoting…

  4. Roth & Company, P.C. Avatar
    Roth & Company, P.C.

    SIDLEY SETTLES; KPMG AVOIDS TRIAL ON FEES

    Yesterday saw two developments in the ongoing tax shelter court battles. Legal giant Sidley & Austin settled charges of promoting…