Back in 1989 the famous case of Leona Helmsley played out. Wife of one of the world’s wealthiest real estate moguls was sent to prison for four years for tax evasion and fraud. She also had to complete 750 hours of community service and pay New York a $7.1 Million in a tax fraud fine. If you thought you may be able to get away with tax fraud, let the “Queen of Mean” be a reminder to you.

Tax fraud is a serious issue that may seem like a quick and easy way to get out of paying the government your due, or even getting more of a refund than you’re entitled to. But, it comes at a serious cost. We’re talking hard time. Leona Helmsley is famous for writing off her personal furniture as business expenses, extorting furnishings from vendors, refusing to pay contractors, avoiding sales tax by buying hundreds of thousands of dollars worth of jewelry in New York but having the empty boxes sent to Connecticut, and claiming that, “Only the little people pay taxes.” She paid the price for that. 

Helmsley was wrong, everyone has to pay taxes. Just ask Martha Stewart, Wesley Snipes and “Survivor” contestant Richard Hatch who have all spent time in the slammer for failing to pay taxes. The IRS is very smart when it comes to reviewing tax filings. If they suspect something is amiss, an audit is on its way and the penalty could be severe.

To make sure that you’re not filing your taxes wrong and that your best interests are being met, rely on the help of professional tax preparation by GI Tax. We take care to prepare your taxes correctly so you’re paying only what you need to and getting back what you deserve. At GI Tax we leave no dime behind.