If you owe money to the IRS, I recommend you pay with US Dollars. Of course, it’s not only a recommendation; it’s required by law. Still, once the Bozo contingent gets involved, you never know what will happen.
So I’m reading a story about a dentist from Glen Mills, Pennsylvania who allegedly decided to pay his taxes with “bonded promissory notes” (whatever those are). Now, this rings a bell: I recall reading something just like this in the last week. Joe Kristan noted a Tax Court case where an individual rather unsuccessfully tried to pay his taxes with pretend bonds. Not only was the Tax Court unimpressed with that idea, they fined the Bozo $15,000 for a frivolous appeal.
In any case, the dentist, Richard Kaufman, has also been accused of claiming he had $7 million in tax withheld in 2008. Add to this the aforementioned promissory notes (to the tune of $10 million), allegedly moving his house into the names of various nominees to hide it from the IRS, and supposedly not filing an accurate tax return since 1991 and you have a heap-load of problems. Dr. Kaufman is looking at a lengthy term at ClubFed and a fine of up to $1.4 million if found guilty on all charges.