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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (103053)	2/2/2008 5:36:24 AM
From: Travis_Bickle	Respond to of 306849

Sec. 7201. Attempt to evade or defeat tax TITLE 26, Subtitle F, CHAPTER 75, Subchapter A, PART I, Sec. 7201. STATUTE Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be fined not more than $100,000 ($500,000 in the case of a corporation), or imprisoned not more than 5 years, or both, together with the costs of prosecution. fourmilab.ch The key is "willfully." It is impossible to violate the statute if you believe you don't owe the taxes in question ... for example if you win the lottery but are under the misapprehension that the proceeds are not taxable income ... not reporting it as income is not a crime. Justice usually throws in a mail fraud charge to up the ante. This is a HUGE defeat for the government, justice department is going to have to step up prosecutions 20x to make up for it ... will cost them tens of millions of dollars. Dude that lost the case going to get posted to siberia.