Originally posted by Money Team.
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Manny, bob, and Michael facing jail?
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Originally posted by checkhuk44 View Postagreed 100000% that Bob has his situation air tight, and he is a former US att, but, he clearly told the country that he automatically garnished Manny's checks, he is on the record several time, its clear that was a smoke screen, his company on paper appears to have eaten the profits, thats stealing from the government, thats punishable up to 20 years in levenworth, manny can most likely prove lack of intent, so his jail term, IF it happens, will be next to nothing, martha stewart territory
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How is the IRS going to get Manny if he never fights out of the US again? If anything he should be worried about the Filipino allegations.. because as the treaty states, two goverments can't tax the same income, but if government A claims foulplay... then Government B can say you weren't taxed correctly in the first place.
If anything, this will make his 50 mill battle in Manila all the more challenging, because it basically nullifies the protection of that treaty....
As I think of it, he should pay that 18 mill, to make the terms of the Treaty valid again , and make the 50 mill one in the Philippines go away. What a mess.
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Originally posted by Syf View PostHow is the IRS going to get Manny if he never fights out of the US again? If anything he should be worried about the Filipino allegations.. because as the treaty states, two goverments can't tax the same income, but if government A claims foulplay... then Government B can say you weren't taxed correctly in the first place.
If anything, this will make his 50 mill battle in Manila all the more challenging, because it basically nullifies the protection of that treaty....
As I think of it, he should pay that 18 mill, to make the terms of the Treaty valid again , and make the 50 mill one in the Philippines go away. What a mess.
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Originally posted by checkhuk44 View PostSo where will he fight and make serious money??? That rios but rate will force him to deal with this
Or cross his fingers for a lifetime tax exemption gift from his people. And fight out of China the rest of his career.
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Originally posted by Syf View PostI think he can make far more money in the states than in China... the framework for that is just not there at this point. He should do one of two things... Pay the IRS what they say he owes, say F u to the Filipino tax claim, and fight out of the states for the rest of his career.
Or cross his fingers for a lifetime tax exemption gift from his people. And fight out of China the rest of his career.
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