My wife and I defrauded the government by hiding income. She's leaving me for her pandemic boyfriend after being caught at our vacation home with him. Now we’re divorcing, and she’s threatening to ruin us both. Moneyist, what should I do?
Throughout our entire marriage, my wife and I jointly, upon our accountant’s advice, defrauded the government by hiding income. We are self-employed. We do have retirement accounts, but also bought properties and a second home and made as many cash payments as possible.
I owe her some sort of spousal maintenance due to our longstanding marriage. But I believe it is far less than she thinks, and now she wants to dig up all of our prior assets that are held in my name or in my other businesses’ name. Yes, I know. This sounds ridiculous and yes, I know, we could both be in jail. I recommended no one do any digging, but she’s adamant that she gets more, and damn the consequences of both our actions during the marriage to mutually defraud the government.A couple that lies together is less likely to stay together. The same, of course, is true of bandits. Your wife lied to Uncle Sam and now she lied to you. You’re in good company. Of course, you also lied to Uncle Sam.
High-income tax evasion is on the rise. Unreported income as a fraction of true income rises from 7% in the bottom 50% of earners to more than 20% in the top 1%, researchers from the IRS, Carnegie Mellon University, the London School of Economics, and the University of California, Berkeley concluded in a paper released earlier this month.
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