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Famous Tax Evasion Cases

Famous Tax Evasion Cases

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Many people do not think about how serious tax evasion cases can be until they hear that a famous name has been hit with a huge tax bill or has been sentenced to a prison term for evading taxes, The Internal Revenue Service (IRS) takes tax evasion extremely seriously and the agency does not discriminate between celebrities and unknowns when enforcing the U.S. Tax Code. The following is a brief look at some of the notorious cases of tax evasion in recent history.

Al Capone – In 1916, tax laws were updated to require people to pay taxes on proceeds of unlawful endeavors. This proved to be quite the problem for major crime boss Al Capone. Essentially, he had two choices: report his illegal proceeds to pay taxes and essentially confess to the crimes or evade paying the taxes. He chose evasion and received a prison sentence of 11 years, much of which was spent in Alcatraz.

Wesley Snipes – Though the actor had earned $38 million from 1999 to 2004, the IRS discovered he had failed to file any tax returns or pay any taxes. Snipes claimed that his tax advisors were tax protestors who advised him that he was not required to pay taxes and Snipes went with the plan. A jury disagreed and Snipes was sentenced to three years in federal prison.

Nicolas Cage – Nicolas Cage is another actor who claimed he relied on the advice of financial advisors. After being accused of tax evasion, Cage sued his advisors claiming that they put him in the position of being unable to pay his taxes. His advisors pointed out that instead of setting the proper money aside to pay taxes, Cage purchased 15 residences, 22 luxury cars, and his own private island. Reports indicated he had sold assets to pay off half his tax bill but still owed more than $6 million to the IRS.

Contact our Criminal Tax Defense Attorneys as Soon as Possible

While most tax evasion cases are not as dramatic as cases involving celebrities, allegations of evasion can significantly affect your life. If you have been accused of tax evasion, call the tax defense lawyers at Attorneys Tax Reliefat (800) 261-6671 for help immediately.

https://abcnews.go.com/Entertainment/nic-cage-pays-irs-million/story?id=16070626

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