Pro Golfer Jim Thorpe pleads guilty to tax evasion
September 23rd, 2009As expected, professional golfer Jim Thorpe pleaded guilty yesterday (Sept. 22, 2009) in Orlando federal court to two counts of tax evasion. The maximum sentence for each count is a $25,000 fine and a year in prison. He also agreed to pay more than $2 million in back taxes.
Thorpe reached a plea agreement after being charged in February with seven counts of failing to file income tax return and failing to pay income taxes. The sentencing date was not set; Thorpe’s attorney said he anticipated sentencing in January. In the meantime, Thorpe is heading back to the Champions Tour.
I don’t know why Jim Thorpe failed to file tax returns or pay his taxes. I do know that the reasons of the more than a quarter-million clients that have turned to JK Harris & Company for help over the years range from major business, financial and/or personal crises to simple procrastination. I also know that the longer you wait to deal with a delinquent tax situation, the worse things will get.
In terms of dollar amounts and criminal prosecution, cases like Jim Thorpe’s are a miniscule percentage of the total number of delinquent federal tax cases that the government is dealing with. But the government will still aggressively pursue collection activity and the only way to resolve the situation is to address it by getting yourself in compliance with the law and reaching a payment agreement of some sort with the IRS. If you’re in this situation, the resolution process will not be pleasant, but once you get through it, you’ll be glad it’s over. Allow the licensed tax professionals and case specialists that are part of the JK Harris tax team to help.
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Back Taxes, IRS Regulations, JK Harris
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