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11271 Ventura Blvd. #612 Studio City, CA 91604 Inside This Issue pg 1 ∙
The Missing Piece of Your Conversion Puzzle
Food for Thought
pg 2 ∙ pg 3 ∙ pg 4 ∙ pg 5 ∙ pg 6 ∙ pg 8 ∙
From the Practice Corner
Roz Strategies Mastermind Programs
IRS Terror Tale of the Month
IRS Terror Tale of the Month The IRS Eats a Tax-Evading Pizza Chef for Lunch
The term“sinfully delicious” took on new meaning this spring when a federal court in Bridgeport, Connecticut, sentenced pizza mogul/celebrity chef Bruno DiFabio to 30 days in prison for tax evasion. DiFabio is famous for his appearances on the competitive cooking show“Chopped,” but this time, he was the one on the chopping block! The chef conspired with his business partner, Steven Cioffi, and two others to hide millions of dollars of restaurant revenue from the IRS. Because of his shady behavior, the government lost out on over $800,000 in taxes. When the IRS found out, it came after the pair with the determination of a hungry customer devouring a pizza.
In 2018, DiFabio pleaded guilty. A Hearst Connecticut Media report of the trial quoted him saying, “Everything is true. I engaged in negligent behavior, and I’m not proud of it. I did this fully knowing that I was doing something illegal, and I minimized the extent of it. And I allowed it to go on as I became more successful in business and I opened up more restaurants. I did this out of arrogance, and I am very sorry and I do understand the impacts of my behavior.” Unfortunately for the “Lord of the Pies” and his accomplices, an apology wasn’t enough for the IRS. After their sentencing this spring, DiFabio and Cioffi reported to jail for 30-day stints
this summer. They also paid the IRS more than $125,000 in cash and assets to make up for its massive losses. Ultimately, the IRS came out on top no matter how you slice it.
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