Filing an income tax return is not the act of being a witness against oneself within the meaning of the Fifth Amendment to the U.S. Constitution. Those who file blank tax returns and attempt to invoke the Fifth Amendment as a defense have routinely been penalized for filing frivolous returns. However, recently a taxpayer filed a numerically accurate return…
Tag: income taxes
David Bowie: Tax Exile
Rock star David Bowie died of cancer in January at age 69. According to a recent account in TaxNotes, Bowie became a tax exile in 1972. At that time he had accumulated U.S. and California tax debts of some $300,000. As England then had a top marginal income tax rate of 83%, that also was…