Another One Bites The Dust

Slowly but surely, the IRS has been taking out the promoters of illegal tax protest schemes. Here is a story of a Florida promoter who is being shut down by the Feds for advising his followers that they are not required to file tax returns or pay any income taxes because the 16th Amendment wasn't properly ratified. As I have explained on several occasions, this is a bogus argument that does nothing but make matters worse when used with IRS.

The followers of this promoter were paying him thousands of dollars for this idiotic advice. Now, they are out that money, plus all of the back taxes, penalties & interest that IRS will demand. Prison time is also a very real possibility for the promoter and his followers.

This is so typical of too many people who put tons of money & energy into trying to scam the system, when they would most likely end up in far better shape if they directed those resources into more productive endeavors. Maybe I have a twisted perspective on life; but whenever I watch a caper movie, where the planning takes years and millions of dollars, I can't help thinking that the masterminds could be even more successful if they channeled that into legitimate things. Of course, it wouldn't be as entertaining a movie. There aren't as many car chases and shoot-outs in starting a business or making a legal investment. As I have said repeatedly, there are so many very inexpensive legitimate methods of reducing one's taxes that I can't have any sympathy for those who are stupid enough to follow the lead of charlatan tax protestors.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 3/30/2002 11:24:00 AM Send this post: