Report: KPMG likely to avoid charges for tax shelters but in talks to pay $500M fine.
KPMG may avoid criminal charges in a probe of its roles in questionable tax shelters, but the leading accounting firm could be faced with hundreds of millions in fines, according to a published report.
The New York Times reported Thursday that negotiations between federal prosecutors and KPMG appear to have ruled out an indictment of the firm, according people briefed on the discussions.
But the paper reports the firm could pay as much as $500 million in the case.
The talks, which are continuing, remain fragile, the paper reports, and criminal charges are still possible. But it said at this point KPMG seems likely to avoid an indictment for selling the tax shelters.
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