As I help folks prepare their 2012 tax returns, the topic of how to minimize tax liability is occasionally broached by my clients. Some clients are more diplomatic than others, but it is clear that a few of them are willing to explore the possibility of aggressively reducing the tax they owe. Obviously, part of my job is to emphasize at all points what is required by the IRS tax regulations. However, we have all heard of folks who stretched tax law beyond the breaking point.
I ran across a fascinating list of the “Top 10 Tax Cheats” last week. I decided it would be worth sharing the list with you... if only for entertainment value. The list is ordered from bottom to top, based on a subjective weighting of boldness. I added one of my own, that I label “1b”, because that tax evader shares at least one surprising characteristic with “Number One”!