We advised you to buy it, you did, now we’ll sue you
Facing the threat of criminal indictment and a torrent of civil lawsuits over its marketing of abusive tax shelters, KPMG LLP is fighting back against the very customers to whom it sold the deals.
Lawyers for KPMG recently filed court papers in connection with a Texas case signaling that they will seek to ask plaintiffs and their personal tax advisers what they knew about the shelters and why they failed to disclose them on their individual income tax returns.
These of course are the very same tax shelters that KMPG marketed to them.