Law Degree Held Against Defendant In Tax Scam
Before entering his guilty plea Mr. Box listened to a federal prosecutor describe his crime. A phony W2-G purportedly issued by Seminole Casino Coconut Creek was attached to his 2011 tax return. The W2-G showed gross gambling winnings of $3,775,0000 and federal withholding of $1,057,000 (That does work out to 28%, which apparently is what it is supposed to be.)
Of course with the top federal rate being 35% in 2011 28% withholding on millions of income is going to put you behind not ahead, but that is mostly taken care of with $3,525,266 in phony gambling losses resulting in a refund of $986,618. After offsetting some tax debts Mr. Box received a check for $735,463.69.
According to this story, this sort of thing should not work anymore as the IRS accelerates matching to occur before issuing refunds beginning with 2017 returns. Still that it ever worked for refunds of this magnitude is shocking. It is also tragic as it tempted people who might otherwise been harmless to turn themselves into big-time criminals
On The Bitterness Of The Gender War
Two of my Forbes pieces - Lesbians Want A Church of Their Own and Why Gender-Critical Radical Feminists Might Want A Church And Why IRS Approved - which broke out of...
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.