Suicide Victim May Have Hidden Millions Abroad

Practical and Practice issues for Professionals who practice in the area of taxation. Moral, social and economic issues relating to taxes, including international issues, the U.S. Internal Revenue Code, state tax issues, etc. Not for "tax protestor" issues, which should be posted in the "tax protestor" forum above. The advice or opinion given herein should not be relied on for any purpose whatsoever. Also examines cookie-cutter deals that have no economic substance but exist only to generate losses, as marketed by everybody from solo practitioner tax lawyers to the major accounting firms.
Number Six
Hereditary Margrave of Mooloosia
Posts: 1232
Joined: Fri Aug 29, 2008 6:35 pm
Location: Connecticut, "The Constitution State"

Suicide Victim May Have Hidden Millions Abroad

Post by Number Six »

http://www.nytimes.com/2009/09/16/busin ... f=business

I hope we don't see any more citizens looking for a "final exit" as the deadline approaches for amnesty over Swiss Bank accounts.
'There are two kinds of injustice: the first is found in those who do an injury, the second in those who fail to protect another from injury when they can.' (Roman. Cicero, De Off. I. vii)

'Choose loss rather than shameful gains.' (Chilon Fr. 10. Diels)
Top
Number Six
Hereditary Margrave of Mooloosia
Posts: 1232
Joined: Fri Aug 29, 2008 6:35 pm
Location: Connecticut, "The Constitution State"

Re: Suicide Victim May Have Hidden Millions Abroad

Post by Number Six »

Legally, it would be interesting to know how situations like this play out with the tax criminal facing the heat of the law vs. dropping dead and letting the family face the consequences. Presumably he left a will to minimize the financial trouble his family would later face with all the loopholes possible when you have access to top level legal firms.
'There are two kinds of injustice: the first is found in those who do an injury, the second in those who fail to protect another from injury when they can.' (Roman. Cicero, De Off. I. vii)

'Choose loss rather than shameful gains.' (Chilon Fr. 10. Diels)
Top
Demosthenes
Grand Exalted Keeper of Esoterica
Posts: 5773
Joined: Wed Jan 29, 2003 3:11 pm

Re: Suicide Victim May Have Hidden Millions Abroad

Post by Demosthenes »

My guess is that he owned a whopping big life insurance policy (through a trust, of course.) If so, dying was one way of both avoiding the shame of a perp walk combined with dying from cancer in prison + getting his heirs the funds they need to pay the back taxes and penalties.
Demo.
Top

Return to “Tax Practice & Policy and Tax Shelters”