IRS agent cheats on taxes and real estate
Jim H. Liu, 43, an audit employee of the Internal Revenue Service, admitted to one federal count of subscribing to a tax return Monday, and will be sentenced to up to three years in federal lockdown as a result.
Worst of all is how Liu cheated: he claimed a $4,200 loss on the 2002 sale of a property in Pomona, when he in fact earned a profit of $48,000; which would have netted the government about $14,000 in taxes. He may have admitted his error gracefully when he was audited and paid up; but instead, he forged documents to say the property had been purchased for $231,500, instead of the actual price of $185,000.
You'd think an IRS agent would know better than to lie to the government once he'd been confronted. But no. (Here's a freebie for the Law & Order writers: Liu kills a co-worker who sees him forging the purchase documents, staging it to look like a suicide due to overwork. You like?)
Silly Liu. If he'd just waited until now to sell the property, he could have gotten his wish; he could have sold the property for a big loss and claimed away.