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After being sentenced to 33 months in federal prison for working with prominent tax charlatan Irwin Schiff, 65-year old Lawrence Cohen has had an epiphany:
"I now know that Irwin Schiff is wrong."
It's too bad it took a view of the wrong side of the prison gate before he figured it out. Mr. Schiff, himself no spring chicken at age 77, is likely to spend the rest of his days on the inside looking out:
Schiff, 77, is the author of "The Federal Mafia: How the Government Illegally Imposes and Unlawfully Collects Income Taxes," a book the government banned from circulation as fraudulent commercial speech.
He could face up to 43 years in federal prison and $3.25 million in fines after being found guilty of 13 conspiracy, tax evasion and tax fraud charges. He also faces unspecified sanctions on contempt citations stemming from outbursts during trial when he served as his own lawyer.
I feel regret at the thought of an old man dying behind bars. Still, Mr. Schiff has brought grief and financial ruin to untold numbers of people who foolishly followed his tax protester advice. It's a sad fate, but he has done much to earn it.
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Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to