Tax lobbyist who represented Renaissance Technologies sentenced for tax evasion

G

guru

https://readsludge.com/2019/12/17/s...-fundraisers-sheep-murder-and-ivanka-jewelry/
“
James Miller: “Criminal (feat. Renaissance Technologies)”

A former tax lobbyist at DLA Piper who represented the Affordable Housing Tax Credit Coalition and Renaissance Technologies will serve a year of supervised release and pay $730,000 back to the government for…tax evasion. Miller massively underrepresented his income from 2010-14 and now has to pay for it. (Politico Influence)

In other tax news, Trump’s 2017 tax legislation is responsible for 91 Fortune 500 companies paying no federal income tax last year and 379 profitable Fortune 500 companies paying an effective tax rate of 11.3% in 2018, the lowest effective rate since the Institute on Taxation and Economic Policy began publishing corporate tax studies in 1984.
“
 
RubiconTrading said:
Have been reading the new book on Rentech, was wondering about the tax case regarding basket options tax treatment...
More...

The IRS can't afford to keep going so they will settle somewhere in between 0 and what they should have paid.

Source: I know many tax lawyers.
 
Seems from the outside, that the fees they charge would allow them to pay the salaries and purchase equipment required to produce the returns they have on the AMOUNT of capital they are trading with...
 
And now:
https://www.wsj.com/articles/renais...nds-tax-maneuver-11576679101?mod=hp_lead_pos7
"
Last week, Renaissance sent a letter to its current and former employees warning that the Internal Revenue Service could force them to pay back taxes and penalties… The letter, reviewed by The Wall Street Journal, said Renaissance now believes the IRS could determine that the foregone fees should be counted as taxable income and as contributions beyond the annual limits to retirement plans…. The Medallion fund, which is only available to employees, charges hefty annual management fees of 5% of all assets and as much as 44% of all of the fund’s gains, suggesting that the foregone fees could be substantial.
"
 
You must log in or register to reply here.
Back
Top