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[Page C4.] Questions About Tax Techniques In meetings with wealthy Americans and their financial advisers, Ernst & Young has been selling four techniques to eliminate or reduce income taxes.
Awkward question for a public company that uses push-the-limits tax techniques: Should it set up a reserve on its financial statements in case the shelters blow up?
The IRS said in November 2007 it was studying tax techniques used by alternative investment firms, including private equity.
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Piermarini, 54, studied art at the prestigious Maryland Institute College of Art and learned his tax technique, he says, from his preparer.
"The IRS hasn't issued any notice (about the 2007 inquiry) and it is kind of a puzzle to me why they haven't," said Victor Fleischer, a law professor at the University of Colorado, among those who first highlighted the tax technique.
The aggressive tax avoidance techniques sold by Ernst were not limited to the United States.
It says the largest corporations with operations in Australia favour two tax minimisation techniques over any others.
Mr. Halperin emphasized that, in describing new tax avoidance techniques, he was talking only about the technical issues and not taking a position on taxing gifts and estates.
In February, it emerged that France was seeking €1.6bn (£1.2bn) in back-taxes from Google, which has been criticised for its use of aggressive tax optimisation techniques.
Professor Harvey has started his testimony on transfer pricing and shifting of profits by multinationals offshore, and on Apple's specific tax planning techniques.
France is seeking €1.6bn ($1.76bn) in back taxes from US internet giant Google, criticised for its use of aggressive tax optimisation techniques, a source at the finance ministry says.
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