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11271 Ventura Blvd. #612 Studio City, CA 91604 Inside This Issue pg 1 ∙
Who Coaches the Coach?
Food for Thought
pg 2 ∙ pg 3 ∙ pg 4 ∙ pg 5 ∙
From the Practice Corner
Member Spotlight
Save the Date for Our Virtual 6th Annual Tax Resolution Success Summit
Shout Outs!
pg 6 ∙ pg 8 ∙
Terror Tale of the Month
IRS Terror Tale of the Month It’s an Airball for This Basketball Star
In basketball, it’s illegal to double dribble, and in taxes, it’s illegal to not pay your federal as well as state taxes. And while former University of Kentucky and NBA player Randolph Morris has never been accused of double dribbling, he has been indicted for double dipping and then some —or more specifically, wire fraud and tax evasion. Morris, who played at the University of Kentucky from 2004–2007, went on to play for the NBA after college. He dribbled for the NewYork Knicks and Atlanta Hawks from 2008–2010. Then, he headed overseas to play ball for the Chinese Basketball Association (CBA) team the Beijing Ducks. There, he led his team to victory in the CBA Championship in 2012, 2014, and 2015 before leaving for the Guangdong SouthernTigers.
According to the Department of Justice, Morris failed to report the more than $13 million dollars he earned on his federal tax returns during the years while playing for the Beijing Ducks. He also submitted false income information to the Kentucky Department of Revenue for the tax years of 2015–2017, depriving the state of Kentucky of more than $400,000 in tax revenue. All in all, the 35-year-old Morris has been charged with an 11-count indictment. Morris may have thought that tax evasion was a slamdunk, but he missed his shot. Now, he’s facing up to 20 years in jail and $250,000 in fines for each of the three wire-fraud counts, and up to a maximum of three years in prison for the other eight counts of false statements on his state and federal tax returns. As of this writing,
Morris is still overseas playing for the Lebanese professional basketball team Al Riyadi. But he’ll leave the basketball court and head for the U.S. court when his appearance is scheduled.
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