"Paul Folbrecht" wrote in message
link.net...
| Who was this? (Mob history used to be a bit of an interest of mine.)
|
|
| Some organized crime figures have attempted to claim that their
percentage
| is actually 'gifts' from their underlings, but that never worked. Now
they
| either launder their money through legitimate businesses or, as in one
| notorious case, declare it all as miscellaneous income and pay the
taxes. It
| would have been fun if he had tried to itemize his business expenses:
| "payments to Senators and Congressmen, $3 million," etc.

I don't remember his name, but he was supposed to have been the head of the
Mafia in New Jersey during the 1960s. More likely he was head of some
family, rather than head of the Mafia in all New Jersey. The story was told
me in 1973 by my income tax professor at the University of Washington, so it
could well be the CPA equivalent of an urban legend. But I like it anyway.