Taxable Talk

Nick’s Famous Roast Beef is in Beverly, Massachusetts. You can get a roast beef sandwich for $4.50 to $6.95, definitely a reasonable price. The Department of Justice is alleging that one reason the prices are low is that the owners skimmed $6 million from the business to lower their taxes. The owners of the business and the son of one of the owners have been charged with tax evasion.

Nick’s only takes cash, and the owners are alleged to have done a variation of the two sets of books idea: two sets of cash register tapes.

The indictment alleges that Eleni Koudanis had primary responsibility for the book-keeping functions of the business, and also recruited employees, including her son Steven Koudanis, to create false cash register receipts to use in connection with an IRS tax audit of Nick’s Famous Roast Beef. The true cash register receipts were allegedly destroyed and not provided to the tax preparer who prepared the business and personal tax returns.

Nicholas Koduanis, Nicholas Markos, and Eleni Koudanis were each charged with one count of conspiracy to defraud the US by obstructing the IRS and ten counts of aiding and assisting in the filing of false tax returns. If convicted, they are looking at spending some time at ClubFed.

This entry was posted on Tuesday, December 15th, 2015 at 2:19 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.