New York lawyer sued by U.S. over tax shelters
Source: Reuters
New York lawyer sued by U.S. over tax shelters
BY NATE RAYMOND
NEW YORK Wed Jun 4, 2014 8:45pm EDT
(Reuters) - The U.S. government sued a New York tax lawyer on Wednesday for allegedly cheating the Internal Revenue Service out of $130 million by engineering and concealing from investigators dozens of illegal tax schemes on behalf of clients.
In a civil lawsuit, U.S. authorities said Harold Levine earned more than $5 million by implementing or participating in at least 90 illegal tax schemes, in which entities he set up improperly deducted more than $515 million in bad debt losses.
The schemes took place while Levine was a partner at the law firm Herrick Feinstein, according to the lawsuit, which was brought by the office of Manhattan U.S. Attorney Preet Bharara.
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http://www.reuters.com/article/2014/06/05/us-taxavoidance-lawsuit-lawyer-idUSKBN0EG02F20140605