Actor Snipes acquitted of tax fraud, guilty of failing to file a return

Highlights of Los Angeles Times article 2/2/2008

A federal jury in Florida acquitted actor Wesley Snipes of felony charges of tax fraud and conspiracy Friday but found the former high-profile star guilty on three misdemeanor charges of failing to file a tax return.

Snipes and two co-defendants were indicted in October 2006. The government alleged that he tried to defraud the Internal Revenue Service by filing false tax returns for 1996 and 1997 that claimed a total of $11.4 million in refunds. The IRS also contended the actor didn’t file tax returns for 1999 through 2004, despite earning millions of dollars during that period.

Snipes’ co-defendants, a longtime Florida tax protester and an accountant hired by Snipes as a consultant, were convicted of tax fraud and conspiracy.

Click link above for complete article.

February 4, 2008 | Filed Under tax evasion, tax preparer, unreported income