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Day 9: January 25 – No two-bit actors here…
By JJ MacNab | January 26, 2008
Today was all about money. A whole lot of money. Buckets of it. Take all-of-the-money-made-by-all-16-jurors-and-multiply-by-10 kind of money.
Government Witness: Steward Stich has been an IRS Revenue Agent for 36 ½ years and his role in the trial was to present the summary of his research into how much Snipes earned in gross income from 1999 to 2004. The ultimate goal was to prove that Snipes earned more than the “minimum filing threshold” in each of the six years in question. Bottom line, if Snipes earned more than roughly $7,300 in each of the four years he was single, and more than approximately $15,750 in each of the two years he was married, then he was legally required to file tax returns with the IRS.
Revenue Agent Stich showed that Snipes’ actual earnings exceeded these amounts by a comfortable margin. A really comfortable margin.
Between 1999 and 2004, Snipes grossed a minimum of $37,897,000 in personal income plus his Kymberlyte company had corporate earnings of at least $20,855,000. Since Snipes didn’t file any returns during the years Kymberlyte was in business, he never elected to receive a more tax-beneficial business structure so his combined taxes are even higher than they should have been had he filed. Ouch.
Add interest and penalties to that higher tax amount, and Snipes could be looking at back taxes of $35,000,000. Double ouch.
The government rested their case, and the trial broke for the weekend just before lunch.
Next week, the defense will present their witnesses to the jury, which they’ve estimated will take about two days. Then the government will have an opportunity to rebut that testimony. After closing arguments by both sides, the jury will escape to a back room and deliberate on the fate of all three defendants.
Interesting bits:
There’s a man in the courtroom who looks a bit like Snipes, and most of us had assumed that he was a brother or cousin or other family member. Turns out he’s a look-alike named Wayne Woodyard. Go here to watch him on video, and here to read a longer story about Wayne and Snipes’ fans outside the courthouse.
Warning: I’ve had to delete many, many comments from this blog in the last few days from tax protesters desperately trying to use this space to peddle their scams and myths to the readers here. Go away. Your comments will be deleted. Life’s not fair.
Topics: Snipes, Tax Deniers | 2 Comments »
2 Responses to “Day 9: January 25 – No two-bit actors here…”
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January 27th, 2008 at 12:22 am
Even Saddam Hussein had a double.
As for the TP’s: screw ‘em. This space is not a forum for your stupid beliefs.
Number of courts that agree with you = zero.
Number of courts that agree with me = all of them.
January 28th, 2008 at 2:40 am
Now, if Ron Paul would only treat his supporters the same way you treat his supporters, he might have a chance, however small, of being competative in the election.
Someone needs to tell him that people are going to think that he’s a kook if he keeps appearing in kook videos of the conspiracy theory underworld, such as A-FTF and Fiat Empire.