Maybe, just maybe, the number of high profile indictments for failure to report income and pay taxes will begin to sink in to that minority who thinks they are above the (tax) law. At any rate, here's another one to chalk up to the "gotcha" side today.
Tsen Toma, a resident of Queens, was indicting for tax evasion for a business that he ran in the late 1990s, Tomo Painting Construction. Download Toma Tsen Indictment.121009. According to the indictment, he received checks in payment for painting contracts and cashed them at check cashing businesses for his personal use. But he never recorded the receipts--amounting to more than a million dollars over three years' returns-- on the books of his business or reported the income on his income tax return. For example, in 1998, Tsen reported only $29,901 of taxable income, when the IRS corrected amount was $452,244, resulting in additional tax due of $168,718.
The press release Download Tsen PleaPR.121009 notes that Tsen left the US during the investigation and was arrested at Kennedy Airport when he flew back from Taiwan on Nov. 24. He faces a maximum sentence of 5 years in prison for the tax evasion count and a fine of $250,000 or twice the gross gain from the offense.
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