The Internal Revenue Service has accused former U.S. ambassador to Ireland Richard Egan of setting up a $62 million illegal tax shelter as soon as he moved to Dublin, a charge Egan denies.
Following an investigation, the IRS claims that Egan set up an economic sham involving another businessman that used a complex system to sell each other's stock in order to dodge tax payments. Egan, the billionaire co-founder of technology company EMC Corp., has started legal action against the IRS in Massachusetts, claiming that the investment deal was perfectly legal.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access