A Massachusetts man who owns a drywall and plastering business was sentenced to three years of probation, six months of home detention, and three months in a halfway house at the end of a tax evasion case on Dec. 19. The man, owner of P.L Drywall Inc., was ordered to pay a $3,000 fine as well as nearly $200,000 in back taxes. The case stems from allegedly falsified tax returns that concealed over $900,000 in income from 2004 to 2006. According to a report, he reportedly lied about his income during an interview with the IRS.
Massachusetts residents might have heard that six more countries have signed a pact that is intended to stop Americans from dodging the Internal Revenue Service by keeping their money overseas. The agreements are hoped to help cut down tax evasion by individuals who have bank accounts in Bermuda, the Netherlands, Malta and three UK Crown Dependencies, which include Guernsey, Jersey and the Isle of Man, according to U.S. Treasury officials. With these latest agreements, the U.S. has 18 foreign countries or dependencies on board with 11 more looking ready to sign.
Massachusetts residents may be interested in a recent case involving a former California city officialand the Internal Revenue Service. The former city manager pleaded guilty to charges related to tax evasion that were allegedly part of a plan to enrich the accused and other city employees. According to IRS officials, the accused used a corporation to claim hundreds of thousands of dollars in inaccurate losses for tax deduction purposes.
Tax laws in Massachusetts and elsewhere can be complicated and charges of tax evasion are not unheard of. In Chicago, several politicians are currently facing corruption and tax evasion charges. Recently, a former Cook County commissioner was set to begin a six-month sentence after his conviction for corruption.