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
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 Parent: 
Belgium
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
business services
Specific Industry of Parent: 
accounting services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.