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ANR: Options for Tax Reform; Phony Alabama Governor Sentenced to Real Jail for Tax Fraud; Menacing Lawsuit Against Baker Tilly Nears End | 05.31.12

Tax Reform: Going Long v. Going Prudent [TaxVox]
Or go home?

Inaction Prevails Again — The European Parliament Defers on the Auditors [Re:Balance]
Who wants to make hard decisions anyway?

Self-Proclaimed Alabama Governor Sentenced for Tax Fraud [AT]
According to prosecutors, the Ervins amassed hundreds of investment properties over the last decade, receiving more than $9 million in rental income. Despite receiving this income, the couple paid no federal income taxes. When confronted by the IRS in 2006, the Ervins proclaimed that they were not United States citizens, and as “sovereigns,” did not consider themselves subject to federal or state law. The evidence established that Monty Ervin and Patricia Ervin also filed numerous documents in probate court renouncing their U.S. citizenship. In one such filing, Monty Ervin declared himself the “governor” of Alabama in its “original jurisdiction.” The Ervins had a license plate on their vehicle which law enforcement witnesses testified at trial was associated with a “sovereign citizens” organization.

Dodgers' McCourt-era finances investigated by federal panel [LAT]

A federal grand jury is investigating possible criminal financial misconduct of the Dodgers and related entities during the ownership of Frank and Jamie McCourt, according to two people familiar with the matter. Authorities have requested documents from representatives of each of the McCourts and from Major League Baseball, the people said, speaking on condition of anonymity because of the confidential nature of grand jury investigations. The investigation started early last year and appears to be focused on tax issues and possible improprieties in the spending of team funds, one of the people said.

Aqua Finance's $327M lawsuit against accounting firm nears decision [WDH]
The firm in question, Baker Tilly Virchow Krause, had $238 million in revenues last year.

Senate Dems not with Warren on reinstating Glass-Steagall bank act [The Hill]
Senate Democratic leaders have shown little appetite for taking on Wall Street before Election Day, despite urging by one of their star recruits, Massachusetts Senate candidate Elizabeth Warren. Warren has called on Congress to resurrect the 1933 Glass-Steagall Act, which established a firewall between investment banks, which traditionally specialized in speculative trades, and commercial banks, which historically earned money primarily from lending.

Scientific Proof That Men Have the Dirtiest Desks [Gizmodo]
Try to tidy up, gents.


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