Senate Committee on Homeland Security and Governmental Affairs

U.S. Senate Committee on Homeland Security and Governmental Affairs

Permanent Subcommittee on Investigations

Title: U. S. Tax Shelter Industry: The Role of Accountants, Lawyers and Financial Professionals, Day 1

Date: 11/18/03

Time (EST): 9:00 AM

Place: Hart Senate Office Building, Rm. 216

Note the time change -- hearing originally scheduled for 9:30.

The Permanent Subcommittee on Investigations’ hearings will examine the role of professional organizations like accounting firms, law firms, and financial institutions in developing, marketing and implementing tax shelters. The Subcommittee will hear from tax experts, as well as representatives from accounting firms, law firms, financial institutions, and a panel of government regulators.

Minority Staff Report on the U.S. Tax Shelter Industry can be found on the Permanent Subcommittee on Investigations' webpage.

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Hearing File: PSI BLIPS2 and SC2 Slide Presentation

Member Statements

Senator Carl Levin [View PDF]

Senator Norm Coleman [View PDF]

Witnesses Testimony

Panel 1

Debra S. Petersen [View PDF] , Tax Counsel IV , California Franchise Tax Board , Rancho Cordova, CA

Calvin H. Johnson [View PDF] , Andrews & Kurth Centennial Professor , The University of Texas at Austin , Austin, Texas

Mark Watson [View PDF] , Former Partner , Washington National Tax, KPMG LLP , Washington, D.C.

Panel 2

Philip Weisner [View PDF] , Partner in Charge , Washington National Tax, Client Services, KPMG LLP , Washington, D.C.

Jeffrey Eischeid , Partner , Personal Financial Planning, KPMG LLP , Atlanta, Georgia

Lawrence DeLap , Retired National Partner in Charge , Dept. of Professional Practice - Tax, KPMG LLP , San Francisco, California

Larry Manth , Former West Area Partner in Charge , Stratecon, KPMG LLP , Los Angeles, California

Panel 3

Richard Berry, Jr. [View PDF] , Senior Tax Partner , PricewaterhouseCoopers , New York, New York

Mark A. Weinberger [View PDF] , Vice Chair , Tax Services, Ernst & Young LLP , Washington, D.C.

Richard H. Smith, Jr. , Vice Chair, Tax Services , KPMG LLP , New York, New York

Committee on Homeland Security and Governmental Affairs
340 Dirksen Senate Office Building
Washington, D.C. 20510