When we last saw Michael Domecq, former president and co-owner of Domecq Importers, he had just pleaded guilty to tax fraud and knew he would spend 10 years at ClubFed. However, he had to prepare 17 years of revised, accurate tax returns to determine what he owed the Treasury.
Well, the returns have been filed and the numbers have been added up, and the total is $4.5 million in restitution (tax, penalties, and interest). That’s a lot of bottles of liquor.
The moral is the same as what we said back in July: “It would have been much simpler to just pay the tax in the first place…but somehow that thought never enters the mind of the tax evader.”