Chicago leader Sidley Austin has been hit with a $39.4m (£20m) fine for its involvement in a controversial 'cookie cutter' tax shelter scheme - although the firm will not face criminal charges, it was announced yesterday (23 May). The Internal Revenue Service and US Attorney's Office for the Southern District of New York said that it would differentiate between the actions of the firm and those of former Sidley tax partner Raymond J Ruble, who faces criminal charges over his role in the scheme.
May 24, 2007 at 07:28 AM
1 minute read
The original version of this story was published on Legalweek
Chicago leader Sidley Austin has been hit with a $39.4m (£20m) fine for its involvement in a controversial ‘cookie cutter’ tax shelter scheme – although the firm will not face criminal charges, it was announced yesterday (23 May).
The Internal Revenue Service and US Attorney’s Office for the Southern District of New York said that it would differentiate between the actions of the firm and those of former Sidley tax partner Raymond J Ruble, who faces criminal charges over his role in the scheme.
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