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Trump has installed an attorney whose accounting firm helped clients avoid paying billions in taxes
Trump has installed an attorney whose accounting firm helped clients avoid paying billions in taxes as the interim IRS head.
Link to tweet
Trump Installs Tax-Dodging Expert as the Head of the IRS
David Kautter’s firm had to pay more than $100 million for a tax shelter scheme. But that didn’t stop him from becoming Trump’s tax-collector-in-chief.
Betsy Woodruff
An attorney whose accounting firm helped clients avoid paying billions in taxes is poised to take control of the Internal Revenue Service. It’s an ironic backstory for the man who Donald Trump named to be the nation’s tax-collector-in-chief. But nonetheless, on Monday, a little-known Treasury Department official named David Kautter will become interim IRS commissioner.
It’s unusual for an IRS commissioner to have experience running the tax practice of a Big Four accounting firm that helped clients fleece the IRS of over $2 billion in taxes. Kautter recently told a U.S. senator that he wished he had handled the situation—which he said played out without his knowledge—“differently.” And his ascent to the top of an agency who his co-workers once fleeced has watchdogs baffled and concerned.
Kautter’s LinkedIn biography says he was the director of the national tax practice for the accounting firm Ernst & Young from 2000 to 2010. In that role, he oversaw tax guidance for all of the firm’s federal and state tax work.
From 1999 to 2004, partners and managers at Ernst & Young mastered the art of creating tax shelters, according to a settlement the firm entered into with the Justice Department (PDF). They designed, marketed, implemented, and defended those shelters in order to slash the tax bills of their ultra-wealthy clients. They kept 200 clients from paying, in total, more than $2 billion in taxes. In return, those clients paid the firm $123 million.
More: https://www.thedailybeast.com/trump-installs-tax-dodging-expert-as-the-head-of-the-irs
David Kautter’s firm had to pay more than $100 million for a tax shelter scheme. But that didn’t stop him from becoming Trump’s tax-collector-in-chief.
Betsy Woodruff
An attorney whose accounting firm helped clients avoid paying billions in taxes is poised to take control of the Internal Revenue Service. It’s an ironic backstory for the man who Donald Trump named to be the nation’s tax-collector-in-chief. But nonetheless, on Monday, a little-known Treasury Department official named David Kautter will become interim IRS commissioner.
It’s unusual for an IRS commissioner to have experience running the tax practice of a Big Four accounting firm that helped clients fleece the IRS of over $2 billion in taxes. Kautter recently told a U.S. senator that he wished he had handled the situation—which he said played out without his knowledge—“differently.” And his ascent to the top of an agency who his co-workers once fleeced has watchdogs baffled and concerned.
Kautter’s LinkedIn biography says he was the director of the national tax practice for the accounting firm Ernst & Young from 2000 to 2010. In that role, he oversaw tax guidance for all of the firm’s federal and state tax work.
From 1999 to 2004, partners and managers at Ernst & Young mastered the art of creating tax shelters, according to a settlement the firm entered into with the Justice Department (PDF). They designed, marketed, implemented, and defended those shelters in order to slash the tax bills of their ultra-wealthy clients. They kept 200 clients from paying, in total, more than $2 billion in taxes. In return, those clients paid the firm $123 million.
More: https://www.thedailybeast.com/trump-installs-tax-dodging-expert-as-the-head-of-the-irs
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