A Cape Cod film director was convicted of tax fraud in Massachusetts Superior Court last week. The man illegally obtained $4.7 million in tax credits from the state Department of Revenue for filming two motion pictures set on Cape Cod. He was sentenced to two to three years in state prison and ordered to pay $4.4 million in restitution. He also faces 10 years of probation after his release.
Boston, already full of historic places and American treasures, can now officially add one more to the tour; Fenway Park. The hundred-year-old ball park will forever be protected with its new designation on the National Register of Historic Places. As a thank you for all the preservation work done on the stadium the federal government will return at least $40 million in tax credits to the team.
Massachusetts native and acclaimed film maker Daniel Adams was arraigned recently in Boston Municipal Court. Adams directed the films "The Golden Boys" and "The Lightkeepers" on Cape Cod. Now he is accused of tax crimes in connection with the making of those movies. The film maker is accused of receiving a tax credit overpayment of approximately $4.7 million.
The First-Time Home Buyer Tax Credit is a dream come true for individuals planning to purchase their very first residential property. The credit is designed to provide tax relief to people taking their first step on the housing ladder. It is such an appealing prize, apparently, that it drove two Boston brothers to commit tax crimes to obtain more tax credits than they were entitled to.