Tennessee Man Convicted of Tax Evasion

Michael R. Aldridge, 42, of Memphis, was convicted of one count of tax evasion the tax years 1991 to 1997. 

Evidence presented during the eight-day trial revealed that Aldridge owed more than $261,000 in taxes. Evidence also showed that Aldridge signed and submitted false Forms 433-A and 433-B with two Offers in Compromise to the IRS and made false statements and submitted false documents during the negotiation of these Offers in Compromise.

In addition, Aldridge purchased vehicles in the names of family members and friends during tax years 2001, 2003 and 2004, and purchased a residence using two different nominees between 1992 and 2005.

Evidence revealed that in 2004, Aldridge liquidated the assets of his corporation, Pro Oil, for a profit of $433,000, and through an elaborate scheme, diverted these funds for his own benefit. In an attempt to conceal the scheme, Aldridge made it appear that various relatives had loaned the corporation money. Testimony during the trial showed that Aldridge directed his attorney to disburse the proceeds of this sale to various relatives.  Most of these relatives had not made loans to the corporation and they were instructed by Aldridge to deposit $50,000 checks into their personal bank accounts.

The IRS Offer in Compromise program is here to help you and trying to cheat it is not okay.  Let a Tax Resolution Specialist help you with your tax problems.  We have a wide variety of tax services and will find the one that best helps you find tax relief.  Contact us at 1-866-IRS PROBLEMS (1-866-477-7762).

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One Response to “Tennessee Man Convicted of Tax Evasion”

  1. Tax Help for Those “Guilty Till Proven Innocent”: Learn How New Tax Laws and IRS Enforcement Initiatives Could Affect You | Tax Relief Tips from the Experts at Tax Resolution University Says:

    [...] irresponsibility, the Obama administration has been working fervently to control white-collar tax cheats. The media has successfully portrayed the businesses that have overseas bank accounts as [...]

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