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Author of Tax-Dodging Guides Agrees To $540K Judgment In FBAR Case

Author of Tax-Dodging Guides Agrees To $540K Judgment In FBAR Case

According to
Law360, the author of several tax-dodging guides agreed to pay more than half a million dollars in penalties for failing to report overseas bank accounts he maintained in Asia, according to documents filed in federal court i
n the case of U.S. v. Kelly, case number 3:21-cv-03043, in the U.S. District Court for the Northern District of Texas.

The author, Nickolas J. Kelly, will pay $540,000 plus
late payment penalties, collection costs and interest for his willful failure to report at least five (5) accounts under his
company's name, Superdrive Publishing Ltd.,

according to documents filed on June 21, 2022.

In 2014, Kelly maintained interest in three accounts at HSBC in Hong Kong, one account at Kasikorn Bank in Thailand and one at the Bank of China in mainland China that had an aggregate balance exceeding $10,000, the government alleged in court documents. 

By January 2021, Kelly Owed Nearly $540,000 In
FBAR Penalties, According To The Complaint.

On Superdrive's website, articles written by Kelly advise on how to avoid reporting assets to the government, with titles including "The Hong Kong Offshore Business Guide," "How to Own Your House and Car Anonymously" and "How to Be a Free Man," according to court documents.

Have an FBAR Penalty Problem?  

 Contact the Tax Lawyers at 

Marini& Associates, P.A. 
for a FREE Tax Consultation at: 
www.TaxAid.com or www.OVDPLaw.com 
Toll Free at 888-8TaxAid (888) 882-9243

Read more at: Tax Times blog

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