Biglaw Firm Accused of Tax Error That Could Cost Bankers Millions, Report Says
Two powerful Wall Street investment bankers could be on the hook for millions of dollars in back taxes and penalties after one of the world’s most prestigious law firms allegedly botched their pay packages, according to a report in the New York Post.
The Post‘s Kevin Dugan writes: “The two bankers — Michael Kramer and Derron Slonecker — face an IRS crackdown on $10.4 million in compensation after their bank’s law firm, Weil, Gotshal & Manges, screwed up a deadline for routine paperwork, according to sources and a report Weil commissioned on the matter.”
The report says the law firm may have failed to disclose the alleged mistake to their client, investment bank Perella Weinberg Partners, in a timely fashion, according to Dugan.
