Refund Scheme Based On Redemption Theory Busted

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The Observer
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Refund Scheme Based On Redemption Theory Busted

Post by The Observer »

http://www.newsherald.com/news/tax-1030 ... -city.html
The scheme was premised upon the “redemption theory,” which is the “fraudulent notion” the IRS would pay taxpayers’ personal debts, the indictment states.

Between Oct. 1, 2008, and Oct. 27, 2009, ABACO filed more than 60 IRS forms on behalf of participants under the theory the individuals were not responsible for debt obligations. Mortgages, loans, credit card bills and credit lines were instead to be repaid with money sought from the IRS totaling around $18,186,691, according to officials.
"I could be dead wrong on this" - Irwin Schiff

"Do you realize I may even be delusional with respect to my income tax beliefs? " - Irwin Schiff
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fortinbras
Princeps Wooloosia
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Joined: Sat May 24, 2008 4:50 pm

Re: Refund Scheme Based On Redemption Theory Busted

Post by fortinbras »

I hope someone will post the indictment itself.
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