Alaskan Tax Evader Might Not See the Light of Day for Years

The saying goes that Cheaters Never Prosper, and neither does a tax evader!

Tina Yi was indicted for filing false tax returns that underreported her income from a hotel, bar, and liquor store she owned in Nome, Alaska.

Yi started the business in 2007 and between 2014 and 2017 evaded approximately 1.5 million dollars in taxes. She kept two sets of books, one that accurately kept track of income and expenses. The second understated the company’s income. Yi provided the false records to her accountant and ultimately underreported her income by more than 3.2 million dollars.

In October of 2017 a fire destroyed Yi’s business which killed a long-time resident of Nome, and ultimately leading to the discovery of the tax fraud. Yi received a 1.8-million-dollar insurance payout from the deadly blaze. The discrepancy in her accounting systems was discovered when Yi submitted financial records to a forensic CPA as part of the insurance claim.

If convicted, Yi faces a maximum for 40 years in prison, as well as restitution.

Do you feel the darkness of your Tax Jam closing in on you?

McCauley Law Offices can help! We offer free, no obligation consultations. Contact us today and let us help you see the light!