Taxable Talk

If you're going to submit phony tax returns, it's a good idea to vary the names you use. Even poorly run tax agencies might catch on if they receive several hundred refund checks from the same address.

That bring us to the present, in the swamplands (aka New Jersey). Three individuals were arrested today for allegedly committing the largest tax fraud in the state's history. The three defendants cashed $826,974 in refund checks, having submitted 540 allegedly fraudulent tax returns. New Jersey officials were able to stop payment on over $1,000,000 in other checks.

What made New Jersey officials suspicious? This news story indicates that the defendants used similar names and employers and common addresses. When arrested, the three defendants were found with $200,000 in cash, blank social security cards, and tax forms (including W-2 forms).

Wesley Snipes is a fugitive no longer. According to the Associated Press, Snipes surrendered to federal authorities in Florida today. He was later released on a $1 million bond.

Snipes will be allowed to return to Namibia to finish the film he's working on. However, he won't be heading overseas in 2007 (at least until after his trial); he must return to the U.S. by January 10th and will then be restricted to traveling within the continental United States.

Joe Kristan speculates that if Snipes is convicted he'll be looking at around six years at ClubFed. A pre-trial conference is scheduled for February 22nd.