 The Wild Wild World of Wealth |  |
Taking your chances with the IRS is often called the “audit roulette.” Like the popular term Russian roulette, the stakes are quite high. If you avoid detection, you save money. If you lose, at best you have to pay all the tax you failed to pay, plus interest, plus penalties. Getting caught also means you are more likely to get audited again in the future.
Lester Morrison fancied himself as one of the busiest tax preparers in the New York City metropolitan area. At various times he operated multiple tax return services in New York and New Jersey. The IRS says that Morrison was filing fraudulent returns, thousands of them. Prosecutors say that the tax loss from his crimes is upwards of $25 million. On January 21st, U.S. District Court Judge Sidney Stein sentenced Morrison to 6 years in federal prison. When he is released, he is prohibited from preparing tax returns for others.
The former owner of Buddy’s Carpet, Leif Rozin, and the company’s in house lawyer, Alan Koehler, were sentenced to prison for their roles in a tax fraud scheme. A jury found both guilty after a three week trial of conspiracy to defraud the United States. Rozin was also convicted of tax evasion. The charges are felonies.
U.S. Is Said to Consider Easing Informant’s Term Bradley C. Birkendfeld is scheduled to start a 40-month prison sentence on Friday, January 6. He’s the banker who exposed UBS’ illegal activities and is now claiming a 30 percent whistleblower’s reward. In case you missed the story, here’s what 60 Minutes reported. Watch CBS News Videos [...]
| | |
© 2012 Acrimoney. All rights reserved. Norb Vonnegut's Author Site
"The Gods of Greenwich is a pure delight, racing relentlessly from the bedrooms of Manhattan to the boardrooms of Connecticut to the banks of Iceland. Bravo!”