Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
Navigation: use the links below to view more comments.
first previous 1-2021-25 last
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!)
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 9 | View Replies]

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)
[ Post Reply | Private Reply | To 20 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 24 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-25 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson