Current Article

Alleged Tax Fraud Destroys Major Dallas Law Firm

Jenkens & Gilchrist will close and pay a $ 76 million civil fine for promoting tax shelters that were allegedly fraudulent. According to the U.S. Internal Revenue Service (IRS), nearly 1,400 individuals received incorrect advice from the Dallas law firm. Some clients have apparently sued the firm for damages incurred because of the advice.

“This should be a lesson to all tax professionals that they must not aid or abet tax evasion by clients or promote potentially abusive or illegal tax shelters, or ignore their responsibilities to register or disclose tax shelters.” - IRS Commissioner Mark Everson

Here’s the moral of the story. If you’re treading a fine line between tax avoidance (legal) and tax evasion (illegal), step back and consider what will happen to you if the IRS and U.S. Department of Justice decide to make an example out of you.

Hat tip to CBS 11 TV.

Share and Enjoy:

About the Author

With an advanced international law degree from Georgetown University and more than 14 years of real world legal experience, Attorney Mike Young shows entrepreneurs how to protect and grow their businesses online. He's the author of Internet Marketing Legal Secrets Revealed. Not just a lawyer who focuses exclusively on Internet and marketing law, Mike’s been working with computers for more than 27 years (his first computer was an Atari 400 with 8 KiB RAM) and started representing Internet businesses back in 1996.