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February 04, 2008

If you are tired of talking about the Super Bowl, visit the TaxProf; he has assembled learned commentary on the Wesley Snipes verdict. I think Neil Buchanan of George Washington University gets it about right:

Notwithstanding the focus on the acquittal for the felony counts, the jury did convict on 3 misdemeanors. Although it is unlikely that Snipes will receive the 3-year maximum jail time, he might well serve some time in jail; so this is hardly a case where a tax denier got off scot-free. He does still owe the tax plus interest plus penalties; so for his efforts, Snipes will pay much more to the government than he otherwise would have, he'll pay huge legal fees, and he's been convicted of criminal offenses. Everyone can do their own cost-benefit analyses, but it's difficult to see this as a smart move.

If you can't get enough Snipes, this is the place to go. Also, Russ Fox has some thoughts.

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