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Tax Evasion Convictions Still Work For Chicago Gangsters
- Caleb Newquist
- October 16, 2009
Chicago is maintaining it’s decades-long tradition of putting mobsters in prison not for murder, not for racketeering, but for tax evasion.
Rudy Fratto pleaded guilty to tax evasion yesterdy which could result in a sentence of 12-18 months. He admitted to not paying $140,000 in taxes he owed on $800,000 earned from 2001-2007.
Despite being from a family of alleged mobsters, association with crooked cops, and an alleged threat to a government witness in another mob case, Fratto will simply take 2010 off.
It’s unlikely that this particular story will result in a historically inaccurate movie starring Kevin Costner but at least it demonstrates the consistency of Chicago law enforcement.
Reputed mobster admits tax evasion [Chicago Sun-Times via Roth & Company, P.C.]
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The Top Ten Tax Procrastinating Cities
- Caleb Newquist
- March 23, 2010
So capital market servants, filed your tax returns yet? No? Too busy, you say? Fine. We’ve all got our excuses. Personally, we’re holding out until Doug Shulman and/or Tim Geithner start returning our calls about their compliance efforts for 2009. Since we’ve been encouraged to not hold our breath on this, we’ve already filed our extension.
But where are most of the kings of putting off the 1040 until the last minute? The greatest concentration of “I’ll do it this weekend” types? The engineers of procrastination station?
Well if you guessed Houston not only are you correct but you’ve got more useless knowledge in your brain than Ken Jennings.
TurboTax’s rankings are based on the largest number of people that file between April 14 – 17. Here are your biggest putter-offers for 2009 (with previous year ranking in parents):
1. Houston – (#2)
2. Chicago – (#4)
3. New York – (#3)
4. Austin, Texas – (#11)
5. San Francisco – (#1)
6. Seattle – (#7)
7. San Diego – (#5)
8. Los Angeles – (#8)
9. Dallas – (#9)
10. Las Vegas – (#10)
This marks the fourth time that H-town has topped this list but we’ll be damned if we can figure out why. Does the humidity and obesity cause a hibernated state that we’re not aware of or is just good old fashioned, “we’re Texans and we hate taxes”? California too. What the hell is their problem?
In order to get to the bottom of this, we asked a friend (and strangely enough, a tax guru) who is a current Los Angeles resident and former resident of Houston to explain and she put in this way:
“Well.. Californians are selfish and think they can do whatever they want to get theirs…and pretty much Texans are the same, but they do it with a smile and an accent.”
Makes total sense now.
Free Tax Filing, Efile Taxes, Income Tax Returns – TurboTax.com
Houston, We Have a Problem [Tax Break]
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Suge Knight Really Needs a 2Pac Comeback to Get Him Out of This Tax Lien
- Caleb Newquist
- March 8, 2010
Suge Knight may be the heir apparent to Nicolas Cage for the King of celebrity tax trouble. There have been several minor liens thrown in here and there and Nas’ $3+ million tax lien was certainly impressive but Suge’s looks like a solid leader for the crown right now.
We should note that for the purposes of celebrity tax issues, Joe Francis does not qualify since he’s technically a “douche” and not a “celebrity”. Also, since the $33 million-ish lien just up and disappeared (we’re assuming that Lucifer is somehow involved) he’s off the hook.
Anyhoo, so being tardy on taxes seems to be a common occurrence but Suge seems to be going for the tardiest of the tardy. He has managed to avoid paying a tax lien, originally filed in 2003, for his 1996 tax return. TMZ is reporting that the lien was re-filed in January and that he owes $6,578,696.31.
TMZ is also reporting that in child support papers filed by Suge’s baby mama, it was revealed that his net income is only $1,207 so paying this lien is going to need some kind of resurrected 2Pac comeback somethingorother.
The blog Baller Status also reports that last month “several personal items he had tucked away in storage were auctioned off to the highest bidder after he failed to pay the storage fees. Belongings such as furniture, TVs, and even a large photo of himself with the late Tupac Shakur were sold.”
So whenever you’re feeling a little down about your own dire personal financial situation or think about your crappy pay, just remember that you could be Suge Knight.
Suge Knight — Old School Tax Lien [TMZ]