Every year at this time the government makes a flurry of tax evasion indictments. Judges also seem to like to sentence tax criminals around this time of year. Just, you know, as a friendly reminder.
Yesterday they made an example of Joseph R. Francis, the founder of the "Girls Gone Wild" empire, indicting him on tax evasion charges. He is accused of taking $20 million in phony deductions and of stashing millions in offshore accounts. Among other things, the indictment alleges that Mr. Francis deducted the cost of building a $3.7 million home as a business expense.
So don't do that.
Joseph Francis in happier times.
UPDATE: The TaxProf has more.
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