Taxable Talk

Here in Las Vegas the local water district really, really tries for everyone to remove their lawns and replace them with “water-friendly” landscapes. Of course, this isn’t an issue in most of the US where rain happens far more frequently than here in the desert.

Most homeowners use sod for their lawns. It’s a big business (except where I live). Adrian Sod has been providing sod to the Sioux Falls, South Dakota region since 1966. Back in 2010, the owner of Adrian Sod, Jerome Adrian, allegedly told an IRS agent that he had no income because everything was in trusts. The IRS is alleging that those trusts are shams. The Department of Justice filed a 45-count indictment against Mr. Adrian, his son, and the ‘trustee’ of the trusts alleging conspiracy and various other tax evasion charges.

When I said sod is a big business I meant it. Allegedly Mr. Adrian has over $5 million in assets. Supposedly Mr. Adrian stopped paying taxes in 2001, allegedly started to fund the phony trusts in 2002, and sent a letter to the IRS in 2002 stating he was no longer a citizen. While it is possible to become an expatriate, it is not possible to do it in the manner that Mr. Adrian has apparently done.

Mr. Adrian is facing a lengthy term at ClubFed if found guilty on all the charges.

This entry was posted on Tuesday, July 24th, 2012 at 8:45 pm and is filed under Tax Evasion. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.