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General Electric Managed to Keep Their Tax Return Under 60,000 Pages

Recently, Congressman Paul Ryan (R-WI) was chattin’ up some citizens at a townhall meeting where he told a little anecdote about asking a GE “tax officer” how long the company’s tax return was for this year. He was told (and the Weekly Standard confirmed) that it was in the nabe of 57,000 pages. Granted, GE filed their return electronically, so there’s no way we can officially know what the count is but the combination of the world’s best tax law firm and a grip of savvy loaned KPMG employees managed to keep it under 60k. Nice job, everyone. [TWS via TaxProf]

Tax Refunds From ‘Secret Government Accounts’ Still Turning Out to Be Bogus

What’s most interesting about this particular scam is that it involved more people – 55 – than some accounting firms’ entire headcount.

A grand jury has indicted 55 people for participating in scams that tried to bilk the government out of more than $250 million in undeserved tax refunds, prosecutors in California said on Monday. Thirty-two indictments were returned by the grand jury accusing the people of various schemes to obtain the refunds. Millions of dollars were paid out, including a check worth almost $1.2 million, the prosecutors said. The owners of one California company were accused of making presentations that claimed customers could get tax refunds from a “secret government account” after making payments to the company and agreeing to pay a percentage of any refunds they received, the prosecutors said.

Grand jury indicts 55 for $250 million in tax scams [Reuters]