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Tax Informants Are On The Loose
Forbes ^ | 11/24/09 | Janet Novack and William P. Barrett,

Posted on 11/25/2009 1:28:14 PM PST by FromLori

A new federal rewards program dishes out cash to people who turn in friends, relatives and employers for fudging their tax returns.

For 24 years Vincent A. Spondello toiled away as an accountant for a group of related companies known as Monex, a large Newport Beach, Calif. precious metals dealer. A trusted employee, he prepared tax returns and was given such tasks as overseeing the destruction of old corporate documents. It turns out that some records that were supposedly destroyed he took home instead.

In May Spondello sent 25 boxes of original Monex papers to the Internal Revenue Service--documents that could buttress the IRS' claim that Monex's owners fraudulently moved around assets to avoid a $378 million tax bill. He made his document drop after hiring lawyers and filing a claim for a whistleblower reward that could total $57 million or more. Monex denies it owes anything, has fired Spondello and is demanding back its documents.

(Excerpt) Read more at forbes.com ...


TOPICS: Government; News/Current Events
KEYWORDS: bountyhunters; fraud; taxes; taxfraud; whistleblowers

1 posted on 11/25/2009 1:28:15 PM PST by FromLori
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To: FromLori

As Lincoln said, everyone has his/her price.

$57 million is pretty darn close to mine.

Besides, if I have to pay freaking taxes, then EVERYONE has to pay freaking taxes...


2 posted on 11/25/2009 1:32:18 PM PST by freedumb2003 (Communism comes to America: 1/20/2009. Keep your powder dry, folks. Sic semper tyrannis)
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To: FromLori
I'm turning in Timmy Geithner for the reward.


3 posted on 11/25/2009 1:33:46 PM PST by frankenMonkey ("Natural Born Citizen" - US Constitution, 1787; "Words have meaning" - Barack Obama, 2009)
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To: FromLori

Seems like an awfully risky move for this Spondello guy. If the company fights the tax fraud charges successfully — or even if they succeed in getting anything more than three years old tossed out based on the statute of limitations — then he could lose a huge chunk of that “reward” and potentially face criminal charges related to theft.


4 posted on 11/25/2009 1:39:19 PM PST by Alberta's Child (God is great, beer is good . . . and people are crazy.)
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To: FromLori
Scumbag rats like Vincent A. Spondello are the type of useful idiots the IRS needs to impose it's Tax Tyranny. Turning neighbor against neighbor for some shekels.

POS traitors like this need to go for a ride to the Jersey swamps to visit Jimmy Hoffa.

5 posted on 11/25/2009 1:46:53 PM PST by skully (Islamofascists love death more then life, PC cowards love diversity more then life. We're so F'd!!!)
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To: skully
visit Jimmy Hoffa.

I hear that Geraldo is planning a special "The search for Jimmy" after the last football game at Giants stadium. /S

6 posted on 11/25/2009 1:57:03 PM PST by rocksblues (Sarah and Joe, Real Americans!)
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To: frankenMonkey

Charlie Rangle where are you?


7 posted on 11/25/2009 2:03:56 PM PST by ronnie raygun (Leaders who refuse to lead will be lead by the people)
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To: skully

Agreed.

Our one weapon to fight back against government spending us into slavery may be the ability to starve the beast.

Hard to fight back like that if you have those types of people around.


8 posted on 11/25/2009 2:06:32 PM PST by EEDUDE
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To: Alberta's Child

There is no statute of limitations on the assessment of unpaid income taxes due to fraud.


9 posted on 11/25/2009 2:08:11 PM PST by TheCPA
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To: EEDUDE
Our one weapon to fight back against government spending us into slavery may be the ability to starve the beast.

It pretty much is our only weapon.

Now if the goberment wants to send some IRS D bag to do my job for the 3 hrs a day I work to pay for goberment that's fine. The other 5 hrs I'm working would be for me; and I'm now I'm keeping 100% of the rewards for my labor, instead of the current 62.5%

10 posted on 11/25/2009 2:19:44 PM PST by skully (Islamofascists love death more then life, PC cowards love diversity more then life. We're so F'd!!!)
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To: FromLori

How do we turn in Timothy Geithner?


11 posted on 11/25/2009 2:20:12 PM PST by Recovering_Democrat
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To: freedumb2003

Everybody has a price and I’m pretty sure 57 million meets it.


12 posted on 11/25/2009 2:21:16 PM PST by tiki (True Christians will not deliberately slander or misrepresent others or their beliefs)
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To: FromLori

bump


13 posted on 11/25/2009 2:43:37 PM PST by VOA
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To: tiki
Sorry, for 57M you would only get to cop a feel from Mary in LA. Her going rate for anything more is 300M.
14 posted on 11/25/2009 3:17:22 PM PST by JPG (Obama's plan for America...today, Labor Unions...tomorrow, Labor Camps.)
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To: FromLori

Not a new program at all. This has been going on for years. Make a deal with the IRS at your own risk. I have seen several published cases where the IRS backed out on the deal saying there was no contract. Plus the whistle blower has to go through his or her own audit before they will be paid.

I am sure some people have collected by being a rat but you deal with the devil at your own risk.


15 posted on 11/25/2009 3:18:29 PM PST by Truth is a Weapon (Truth, it hurts soooo good!)
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To: Alberta's Child

I would expect that a corporate accountant would have signed some sort of confidentiality agreement, wouldn’t you?


16 posted on 11/25/2009 3:33:04 PM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: FromLori
More proof that our out of control IRS and FedGov play to the WORST in people instead of rewarding good behavior.

This will not end well. For anyone...

17 posted on 11/25/2009 3:43:27 PM PST by Dead Corpse (III)
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To: skully
It pretty much is our only weapon.

Next to last. The last is the one that no one talks about, or is allowed to talk about, but everyone is thinking.

18 posted on 11/25/2009 3:45:02 PM PST by Dead Corpse (III)
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To: Truth is a Weapon
Make a deal with the IRS at your own risk.

"Never invite the Man into your life..."

19 posted on 11/25/2009 3:46:07 PM PST by Dead Corpse (III)
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To: Dead Corpse

Let’s review: Under Democrats the CIA is NOT allowed to deal with informants or recruit double-agents because they are unsavory and it offends their sense of fair-play. OTOH, the Dems have no problems soliciting testimony through the IRS from every malcontent, liar, or co-conspirator because it is in the best interests of funding the government. Quality of the evidence be damned.

Got it?


20 posted on 11/25/2009 4:06:41 PM PST by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: FromLori

“Starving the beast” is nearly impossible when they take the money right out of your pay before you ever see your paycheck.

Tax withholding has got to go!


21 posted on 11/25/2009 5:49:47 PM PST by DNME (We are now under a state of national emergency (for H1N1) so Katie bar the door!)
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To: TheCPA

Right. My point was that if the company could make the case that any unpaid taxes were the result of simple mistakes instead of outright fraud, this guy might have went through a lot of trouble for nothing.


22 posted on 11/25/2009 6:14:46 PM PST by Alberta's Child (God is great, beer is good . . . and people are crazy.)
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To: Tallguy

Makes my head hurt... Cognitive dissonance can be dangerous to your health.


23 posted on 11/25/2009 6:34:39 PM PST by Dead Corpse (III)
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To: FromLori

There was a time when tax collectors were tarred and feathered.....once they have to actually pay the debts they are now running up, they will have to essentially collect so much money from each person that we will live as the serfs used to live.


24 posted on 11/25/2009 9:27:54 PM PST by krogers58
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To: krogers58

As they should be today taxes really are theft especially as they are used today.

http://defenseofcapitalism.blogspot.com/2009/11/true-meaning-of-thanksgiving-birth-of.html


25 posted on 11/26/2009 6:43:37 AM PST by FromLori (FromLori)
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