Real Housewives of New Jersey stars Teresa and Joe Giudice were sentenced Thursday to 15 and 41 months of jail time, respectively. The couple pled guilty to charges including failure to file income tax returns, along with a handful of other charges. The sentence includes almost half a million dollars in fines and restitution.
Teresa and Joe Giudice failed to file taxes from 2004 to 2008 and then proceeded to spend unreported income ON NATIONAL TELEVISION. Did they really think their highly public and highly excessive spending habits would go unnoticed by the IRS?
This lavish couple obviously failed to comprehend that IRS auditors live among us; they watch television, eat at your bar, and shop at the bookstores that sell Teresa’s cook book. They might even live next door.
While reality television is not generally a place to learn any life lessons, Teresa and Joe have provided a very public display of “what not to do” for Taxpayers across the Nation. Failing to report income on your tax return can only slide so long before the IRS begins to take notice.
The IRS has the ability to cross reference income received versus what is reported.
Instead of ending up with a prison sentence with substantial restitution, back taxes, interest, and penalties due, take action before you end up like the Giudices.
If you are worried about incorrect or unfiled tax returns, please contact one of our Tax Attorneys at 352-224-2102 for a free 10 minute consultation.