Our Videos

August 10, 10

NEWS / Justice Department Sues Two California Residents to Bar Them from Promoting Alleged Tax Sham Trusts


Individuals Allegedly Encourage Taxpayers to Form Common-Law Trusts as a Means of Tax Evasion

WASHINGTON Ė The United States has sued Gwenn Wycoff and Frank Ozak of Los Angeles seeking to bar them from promoting the formation and operation of "common-law" trusts for the purpose of tax avoidance, the Justice Department announced today.

According to the governmentís complaint, filed in the U.S. District Court for the Central District of California, Wycoff and Ozak promote - through personal appearances, a website and a self-published two-volume work they co-wrote entitled The Art of Passing the Buck - the creation of common-law trusts. Wycoff and Ozak urge taxpayers to place all personal assets, as well as their businesses, into a variety of related trusts in order to create the impression that the taxpayer no longer owns the assets at issue. Thereafter, the complaint alleges, the trusts are ostensibly run by independent trustees (often Ozak and Wycoff themselves), when in fact the customers who created the trusts continue to exercise control over the assets placed into the trusts in many ways (although Ozak and Wycoff also made investment decisions with respect to some of their customersí trusts without their knowledge).

A major goal in creation of such trusts, the complaint asserts, is to make it appear as if the taxpayers themselves have little to no income, and thereby evade the payment of federal income taxes. Indeed, as the complaint alleges, Wycoff and Ozak have their customers sign an "Oath of Privacy" (in which they agree to not disclose trust business or face penalties of up to $100,000) as a means of preventing customers from disclosing to the government facts revealing the illegality of the trusts.

The governmentís lawsuit contends that the trusts created with the assistance of Wycoff and Ozak (including one they created for themselves) either to be sham entities or to have made false and fraudulent claims in the trust income tax returns. Wycoff and Ozakís misconduct, the complaint alleges, has caused great harm; the total amount of tax deficiencies assessed by the government to date in just four cases involving Wycoff and Ozak-created trusts is over $1.1 million.

http://www.justice.gov/opa/pr/2010/August/10-tax-912.html

 




Testimonials

AnnaMaria Realbuto
Thank you for all your assistance and efficiency...
Read More »
Kateryna Melnychenko
Thanks a lot Anton!...
Read More »
Rani Payne
Thank you so much! Iím sure I will be in touch again with something else that will need to be apost...
Read More »
Serge Bauer Law
Thank you again for your help with this case!...
Read More »



FAQ

How much does an apostille cost?
Read More »
HOW DO YOU GET A DOCUMENT NOTARIZED OVERSEAS?
Read More »
Is it illegal to damage or deface coins?
Read More »
What if I am searching for a job?
Read More »






News

April 17, 24
Illinois County Clerk dies; Cook County temporarily suspends issuing vital records
Read More »
April 12, 24
MI country scholarship program offers discounts for vital record retrieval
Read More »
April 10, 24
Brittany Hensel not listed as witness on conjoined twin sisterís marriage certificate
Read More »
April 5, 24
KY man forges death certificate to avoid child support payments
Read More »