Posted on 01/18/2005 10:20:31 AM PST by presidio9
Richard Hatch, the first winner of CBS's "Survivor," was charged today with failing to report his $1 million reality TV windfall to the Internal Revenue Service. The below two-count criminal information, unsealed today in U.S. District Court in Rhode Island, charges Hatch with filing a false 2000 tax return that omitted his seven-figure "Survivor" winnings. The nudity enthusiast, 43, is also charged with filing a false return for 2001 (he allegedly did not report $321,000 paid to him by a Boston radio station). If convicted of the felony charges, Hatch could face a maximum of five years in prison for each count and could be hit with a $250,000 fine. Hatch is scheduled to be arraigned on the charges in Providence federal court January 24. (6 pages)
KEYWORDS: ...PERVERT; QUEER; SODOMITE...
Nothing like giving our enemies on the Left some ammo.
The foreign earned income exclusion is limited to $80,000 per year. To receive that amount, the taxpayer must have been out of the USA for the entire year. If the taxpayer is out of the USA more than 330 days (best I remember), the exclusion is prorated.
Yes, but the tax must also have been assessed more than 18 months ago and not be the subject of a late return in the last two years. If he never claimed the income on his return, it was not assessed then. The IRS can assess the tax on the income as a result of an audit, including document matching. The IRS has 10 years to collect the tax once it is assessed. The IRS can also object to a discharge in bankruptcy even if the taxpayer meets all the time requirements if the taxpayer corruptly avoided paying the tax--such as by gambling away his income. I understand that the rules for a partial discharge in a Chapter 13 bankruptcy are less stringent.
They can still nail you for failure to file, but ususally if you are nice and file when it is brought to your attention (and pay the appropriate penalties for late filing, they will then leave you alone.
Survivor news ping.
LOL
I could never keep an interest in any of the Survivor series. They just seem like lying contests to me.
As much as I hate to say it, Richard Hatch does not owe a penny of his winnings to the IRS. None of it is taxable. He needs to file a 1099c to correct the amounts reported to the IRS as "taxable" income, because the Federal Income Tax has not been imposed on this type of income, yet if the company reports it as so to the IRS and this report (either a W-2 or 1099) goes unrebutted, the IRS can quite easily go after him for the taxes on that money, as well as jail him. Go to www.losthorizons.com to learn more
So, the upshot is, he will owe 175% of the original tax on the $1·106? Plus interest, of course?
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