Pay Your Taxes from Domain Name Earnings or Risk Jail
In a story breaking Dallen D Harris who owned and operated domain names and various adult websites such as SexTape.com & CelebritySexTape.TV has been jailed for Tax Evasion.
Do you know Dallen D Harris?
Here is the Story
A Wichita man was sentenced Monday to two years in federal prison and ordered to pay more than $800,000 in a tax-evasion case involving unreported income from Internet domain names.
Dallen D. Harris, 39, pleaded guilty to one count of tax evasion. In his plea, he admitted he reported taxable income for 2010 of $164,157, when in fact his taxable income was more than $1 million, U.S. Attorney Barry Grissom’s office said. Harris must pay $827,216 in restitution.
According to court records in a related civil forfeiture case in federal court, Harris obtained income from a variety of domain names, including celebritysextape.tv, adultkingdom.net, porntesters.com, hardcorefilms.tv, celebritynakedpic.com and sextape.com. The government in that case is seeking to forfeit houses, cars and bank accounts owned by Harris
One thing if you hide 10-20k, but this guy just went over the border. Each bank transaction over 10k gets reported to IRS. If he had this big of a money flow, it’s better to spend some money on offshore bank account and call it a day
Robbie,
Perhaps this would be a good opportunity to briefly discuss tax requirements / implications for the ‘part time domainer.
Dan,
I am not a Domain Tax Expert but I am sure I can pull something together…
Thanks
Robbie