Clients who receive bad tax advice deserve To Be Made Whole
Most people—even really smart ones—don’t understand the IRS, the federal tax code, or how to prepare their tax returns. As a result, we rely on professionals to help prepare taxes and advise us on what is and is not acceptable. If there is a risk of penalties, we expect to be told in simple English.
Over the past decade, many accounting and law firms have marketed various tax "products" to delay or reduce taxes or turn income into lower-taxed capital gains. Clients often pay substantial fees to receive this kind of advice.
The IRS is clamping down, lawsuits are being filed, and professional firms end up scrambling to make their operations look legitimate.
The fines and penalties these clients may now owe the IRS, even though they relied on professionals, is not fair, but to hold the responsible parties responsible for damages, clients need to act quickly because claims against accounting and law firms sometimes have very short time limits.
Consumers who received bad tax advice from a professional firm and now are facing IRS scrutiny should receive compensation from responsible accounting or law firms, starting with a free, private case review.
Bad Advice Concerning Tax Shelters From Professional Firms
Consumers who received bad tax advice are urged to request a free, private case evaluation for justice and compensation.
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Consumers with IRS penalties or fines and other damages may qualify for a free case evaluation
We encourage consumers with damages resulting from bad tax shelter advice to request a free, private case review with the potential for justice and compensation.
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Tax Shelter Info To Prepare Consumers
Explain how bad tax advice affected clients.
Over the past decade, these accounting firms have been peddling all sorts of tax "products" to delay taxes and turn income into lower-taxed capital gains. Clients paid big bucks for these deals and were kept quiet. Some tax shelters sailed through IRS checks, but many are now being turned down.
For example, a Senate subcommittee investigated accounting giant KPMG and found:
Modern tax shelters are often driven by the professionals who devise and market them rather than just by unscrupulous taxpayers.
The key players in these schemes are the professional groups that design and aggressively market tax shelters, sometimes using telemarketing tactics.
KPMG acknowledged selling these tax shelters but stated that the era of large-scale tax shelter products has passed.
The Senate investigation revealed a detailed infrastructure that:
Was dedicated to creating, marketing, and selling tax shelters
Employees were reportedly under significant pressure to generate profitable ideas and sell them vigorously
KPMG was said to have used confidential taxpayer information gathered by its tax preparers
KPMG ran a telemarketing operation to find customers for its tax shelters
Compensation Begins With A Free Online Case Review
Victims of bad tax shelter advice deserve justice and potential compensation from these major tax firms that failed to sell tax products and provide tax advice that meets the standards of the IRS laws.
Bad Tax Shelter Advice FAQ: Questions About Bad Tax Shelter Advice
Which Big Four tax firm was first to receive suspicion about their tax products?
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Which Big Four tax firm was first to receive suspicion about their tax products?
The IRS is on their case about those tax shelters. PricewaterhouseCoopers had to pull the plug on selling those prepackaged tax strategies after the IRS cracked down on clients who filed taxes based on the firm's advice.
Who are the primary clients that are considering lawsuits in these cases?
The lawsuits from clients like Tyco and Xerox are suing the Big Four because of bad audits-and, individuals who got tax advice from Ernst & Young and KPMG are suing for back taxes, interest, and penalties.
What are some of the effects of the bad tax shelter advice?
The fines and penalties these Big Four clients suffered from the IRS have resulted in lost confidence, including significant financial damages that deserve to be made right in a court of law.
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