Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: BDO USA, LLP
Current Parent Company: BDO International
Penalty: $34,400,000
Year: 2012
Date: June 13, 2012
Offense Group: financial offenses
Primary Offense: tax violations
Mega-Scandal: Assisting Tax Evasion
Violation Description: The Internal Revenue Service reached a settlement with the accounting firm of BDO USA, LLP under which BDO paid a civil penalty to the IRS of slightly more than $34.4 million stemming from its violation of the tax law concerning the registration of tax shelters. BDO did not register various tax shelters as required by law, some of which were abusive and fraudulent, in an effort to conceal the tax shelters from the IRS and assist high-income taxpayers evade federal income taxes.
Level of Government: federal
Action Type: agency action
Agency: Internal Revenue Service
Civil or Criminal Case: civil
HQ Country of Current Parent: Belgium
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: business services
Specific Industry of Current Parent: accounting services
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.