Company officer represented in IRS/DOL investigation
Clients Company officer
Jones Day represented an individual company officer in an investigation conducted by the Internal Revenue Service and the U.S. Department of Labor regarding the propriety of including high value art work in the company's retirement plan. The government agencies contended that the plan was designed for the sole benefit of the company officer. After investigation, including interviews of the officer, a full review of company records and a submission by Jones Day, both agencies terminated the investigation and closed their files without charges or civil proceedings.