taxes

MTV’s “Jersey Shore” star Michael “The Situation” Sorrentino and his brother were indicted Wednesday on charges of filing false tax returns involving $8.9 million income. Michael was charged with two counts and his brother Marc with three counts of filing false tax returns for 2010 through 2012, according to the Department of Justice. Michael Sorrentino was also accused of failing to file a tax return for 2011. “The brothers allegedly also claimed costly clothes and cars as business expenses and funneled company money into personal accounts,” U.S. Attorney Paul Fishman said. “The law is absolutely clear: Telling the truth to the IRS is not optional.” [CNBC]

If you’re up to speed on the latest trends in Where Rich U.S. Citizens Are Talking About Moving To Beat What They Believe Is An Oppressive Tax Code, you know that Puerto Rico is high on the list. Working in its favor is the fact that it’s a relatively quick trip (versus, say, Singapore), the weather’s pretty good, and there are some decent private schools for Junior and Buffy to attend. Sure, the crime is something to think about, but probably the biggest impediment? The thing that’s gotta be figured out stat if the territory is going to make John Paulson some serious money on his bet that millionaires are going to start moving their en masse? The god damn line at Quiznos. Read more »

It seems all of the sound and fury—and then nothing—surrounding whether to close the carried-interest loophole/raise taxes on hedge and private-equity fund managers may have been (it wasn’t), but was certainly unnecessary. Maybe. Read more »

  • 15 Apr 2014 at 1:28 PM

Tax Day Watch ’14: The Travails of The 1%

Sure, the top hundredth earned a bunch of extra money, on average, last year. But did you know that they have to hand some of that over to the federal government so it can buy those 47% ciphers healthcare or teachers or some other bullshit? And that next year, after they earn about $330,000 more this year than they did last year, they’ll have to pay even more? Read more »

Of course, that money could be redeployed to any politician willing to listen to reason. Surely, someone wants Ken Langone’s vote. And check. Read more »

  • 11 Feb 2014 at 5:42 PM

Philistine Sees No Art In A Good Lap Dance

Related, if you’ve got any cash to spare, the Hustler Club could use some right about now. Read more »

  • 22 Jan 2014 at 4:02 PM

Bitcoin Is Getting More Real Every Day

You can buy discount broadloom, see a last-place team, donate to fringe political candidates, waste more time and money at a coffee shop, accumulate hotel rewards and buy porn, travel with some difficulty, run a massive online black market and throw your money away in Vegas, all with bitcoins. And soon, you’ll be taxed on them. Read more »