Thread: Epass And Taxes
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Old 10-04-2010, 09:48 PM  
epitome
So Fucking Lame
 
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Join Date: Jun 2009
Location: St. Petersburg, FL
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Quote:
Originally Posted by tab View Post
Look...
My feeling is that most of the money in epass was undeclared revenue.
Better still, you could stream this undeclared revenue on to a visa card and live a jolly good life.
Mr. Mallick didn't fuck up even though he can be a bit of a narcissistic bozo.
He just never imagined that the great weight of the US treasury department and the IRS would lift itself off its comfy office chair to squash him.
I have no idea how much money moved through epass, anyone care to throw out a figure?
However, the tax losses must have been enormous.
Enough so that the IRS forces a meeting with Visa and the hammer drops.
Shut it down.
And down it shuts.
Uncle Sammy wants his moola.....
Not a new theory.

Let's see, Epass went down on 9/3, and people have been speculating about that very same scenario since...I think right around 9/4.
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