Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Two Infamous Tax Settlement Cases

By Ralphs Wieben Subscribe to RSS | January 15th 2012 | Views:

Many people wonder what tax settlement they might receive after failing to pay their back taxes. Some think they can avoid paying when they owe back taxes to the IRS, hoping the problem will go away on its own. The fact is that without a tax settlement their situation will escalate, sometimes into an unnecessary drawn out legal battle. Many prominent people have become deluded by fame or power into the belief that they were outside of the law. Even an American Vice President and the most fear Mob boss in history were forced into a tax settlement removed from power and defeated by tax evasion and corruption. The IRS does not discriminate or choose favorites. They expect to get paid by anybody and everybody.

While less well known the right-hand man of "Tricky Dick" Nixon was possibly even more tricky. In 1973, just after Nixon and Agnew were elected to their second term as president and vice president, Agnew became the subject of an investigation that alleged the vice president was not only a tax evader, but was also a money launderer.

On October 10, 1973, Spiro Agnew became the second Vice President to resign the office as a result of the charges and he sought a tax settlement in his case. He pleaded no contest to tax evasion, part of a negotiated tax settlement to a scheme wherein he was accused of accepting more than $100,000 in bribes during his tenure as governor of Maryland. Agnew was fined $10,000 and put on three years' probation. The $10,000 fine only covered the taxes and interest due on what was "unreported income" from 1967.

This tax settlement was later mocked as ridiculous and four students from George Washington University Law School, known as Banzhai’s Bandits, filed a case to force Agnew to pay the state $268,482—the amount it was said he had taken in bribes. After two appeals by Agnew, he finally resigned himself to the tax settlement and a check for $268,482 was turned over to Maryland State Treasurer in early 1983.

Agnew bitterly resented and denied the charges until his death and claimed he only accepted the tax settlement and resigned because Nixon and his chief of staff Alexander Haig told him they would have him assassinated if he didn’t go.

In some cases the government will not be satisfied with only fines and disgrace as a tax settlement. They want the perpetrator locked up. Especially when the person openly mocks tax settlement, the IRS, and everything to do with civil society.

As head of the Chicago underworld during the 1920s, Al Capone enjoyed a lavish lifestyle and was responsible for some of the worst crimes of a violent era. Dubbed Public Enemy No.1, he became the focus of an intense investigation by the FBI. He could intimidate any witness and owned nothing in his own name, using front men, making it almost impossible to get the charges the government threw at him to stick. That is, until they looked into his finances.

During a routine raid of one of Capone's warehouses, Eliot Ness and his "Untouchables" stumbled across a desk drawer containing account information for the mobster. It would be just enough to seal his fate. Not only would they get a tax settlement, but also they would get to put him away.

The head of the illegal alcohol trade, the corrupter of local government and the man responsible for then St. Valentine's Day massacre wouldn't be taken down by murder charges. Paperwork and the IRS would do in the king of Chicago. Capone once allegedly said, "The income tax law is a lot of bunk. The government can't collect legal taxes from illegal money." But this time, the government did collect. They got their tax settlement and then some.

After his trial in 1931, Capone was ordered to pay $80,000 dollars in fines and was sentenced to 11 years in prison. He would serve only six and a half of those years, but they took their toll. While locked up, numerous attempts on his life were made and the syphilis he contracted during his youth would rapidly progress, leaving him a shadow of his former self. Suffering from syphilitic dementia, he was released 1939 and after another stint in jail, would live out the remainder of his days with his family in Florida, trying to catch fish in his swimming pool.

Ralphs Wieben - About Author:
Prince Ahmed writes for Community Tax Helpers which offers State or IRS Tax problems with a wide range of services e.g. Release Tax Lien and Tax Settlement

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Investing Articles Subscribe to RSS

Outsourcing debt settlement is the best solution
Published by John Taylor on December 26th 2011 | Finance
If you are in the business of marketing debt resolution services, you should consider outsourcing de...
Invest in reputed oil exploration companies to ensure maximum profit from oil well investment
Published by Marvingeniston on April 18th 2012 | Investing
Texas based oil exploration companies offer oil well investment opportunities to its investors who c...
Know about companies which apply advanced techniques for natural gas exploration
Published by Marshjoseph on April 26th 2012 | Investing
Though considered comparatively newcomer in this field, few Texas based companies make sure they use...
Know About Debt consolidation companies
Published by James Blee on March 6th 2012 | Investing
Debt consolidation companies will help you find debt settlement firms that will offer you the qualit...
Debt settlement process- a Discussion
Published by James Blee on March 5th 2012 | Investing
The process involves negotiation with the creditors to pay off a percentage of the total debts at an...
Articles that make firms better in debt settlement
Published by Rajkumar Kaushal on May 26th 2012 | Finance
Debt articles and firms that care of debtors is one of those debt settlement we see when it comes to...
Know about companies which have applied hi-tech strategies to ensure success in oil and gas exploration
Published by Luciraj on May 7th 2012 | Investing
Many independent oil and gas companies based in the US are doing commendable job in this sector. The...
Setup your own backend debt settlement office
Published by John Taylor on December 26th 2011 | Finance
It’s best to pass on all your tax settlement issues to a competent tax settlement backend. These b...
Taking care of debt settlement
Published by Rajkumar Kaushal on May 12th 2012 | Finance
How do you choose good information on debt settlement bankruptcy in debt settlement? This is one que...
How to choose the best dividend paying companies
Published by Isol on August 13th 2012 | Finance

Finding and investing in a dividend paying company is quite a bit easier than finding a com...
Maryland debt settlement centers
Published by Rajkumar Kaushal on May 30th 2012 | Finance
Maryland Tips and management in debt settlement centers is one of the management of debt that Tips a...
Let the backend service provider resolve your backend tax settlement problems
Published by John Taylor on December 2nd 2011 | Finance
For the benefit of those that are handling debt resolution services, there are some professional bac...
Debt Settlement and its companies
Published by Rajkumar Kaushal on May 17th 2012 | Finance
Debt settlement Colorado has companies of debt settlement which is one debt agency of the state that...
Pass on your tax settlement issues to attorneys
Published by John Taylor on December 20th 2011 | Finance
It’s best to pass on all your tax settlement issues to a competent tax settlement backend. These b...
Consider outsourcing your debt settlement business
Published by John Taylor on December 5th 2011 | Finance
If your business involves debt resolution services, the business may quickly spin out of control due...
Advice and tips for settlement of debts
Published by Rajkumar Kaushal on June 19th 2012 | Finance
Sometimes, it is when most people are in debt that they start looking for advice. Advice can be expe...
Writing a review on debt settlement
Published by Rajkumar Kaushal on April 30th 2012 | Finance
Have you been having problems with your Debt Settlement reviews Now your worries will now be a thing...
Debt settlement through bankruptcy
Published by Govindsingh on June 26th 2012 | Finance
Bankruptcy has become what those down in debt and cannot pay make use of in starting over again. Wit...
Consult oil podcast of reputed oil exploration companies to know latest developments in this sector
Published by Rose Bush on May 23rd 2012 | Investing
Oil and natural gas has never deprived its investors of positive return. Countries like USA, though ...
Bank debt settlement in America
Published by Govindsingh on June 26th 2012 | Finance
For you to get out of debt settlement bad during settlement of debt in bank is very important. Cashl...