VICK FILED NO TAX RETURN FOR 2007

According to TMZ.com, imprisoned Falcons quarterback Mike Vick did not file a federal tax return for calendar year 2007.
The IRS has stated in filings made in connection with Vick’s banruptcy filing that he owes $1.2 million.
The return was due on or before April 15, 2008.
On one hand, Vick has had bigger fish to fry (or, as the case may be, dogs to drown).  But he has had plenty of time on his hands since last December.
Moreover, why didn’t his lawyers get this taken care of? 
We doubt that Steve Martin’s old “I forgot” excuse will work, or that the feds will decide that Mike has been through enough and just leave him alone.

25 responses to “VICK FILED NO TAX RETURN FOR 2007

  1. speaking of steve martin material… he could always say: i was born a poor black child… maybe that will work… it worked on poindexy…

  2. He is almost as bad as Jared Allen and Ray Edwards combined. They should lock all 3 of them up and toss away the keys!

  3. “Who cares about Vick anymore. So he didnt file tax returns, no real law states that he must. ”
    I guess that’ll make him feel better when he gets a real fine for not filing a tax return.

  4. Is this when we make excuses, and say, “well, he is black, and from the deep south, it isnt his fault, it is in his culture”. That was the justification for the dog fighting, right?
    What is the over/under for the number of posts before someone makes this a racial thing? (editors note, yes, my original thought, includes his race, but that is all part of the joke. Some of you will understand, and some of you wont, my over/under question is in relation to someone legitimately making it a race issue)

  5. Wonder if Vick can make enough money to pay all his bills in the arena league?
    Canada will not allow convicted felons to work up there.
    Not sure any NFL team would risk signing him. Arthur Blank has already said the Falcons have NO INTEREST in signing him. Although per Arthur he would be glad to endorse him to be someone Else’s headache/problem. What a guy Arthur is.

  6. 1st) according to what I have read (here and elsewhere)
    Vick is stating in his bankrupcy statement that he expects
    to return to his former employment (not sure if he means
    NFL QB, Dog Fighting financier or convict) fairly soon…
    WHY? I think I would be having my lawyers talking about
    how the league is going to suspend me for another year at
    least, how much my skills have and are deteriorating eating
    Kraft Dinner in the joint and not having anyplace to really
    work out, and just how broke I am making $0.12 an hour..
    Get ALL the debt off the books BEFORE he gets out..
    2) Other than the IRS and Mike Florio who cares what Mikie/Ron
    is/are up to, will be up to or even that he/they are making
    regular guest appearances in the shower (as the main entertainnment)
    The only people who are really gonna go for this is whatever
    variation of the WHL that Vick finally signs with, they will
    get a billion bucks worth of free advertising, and that is
    just here on good ole PFT.COM…

  7. Yeah we all watched the documentary America and we all are aware that theres no written law stating we have to pay taxes. However, the government seems to think there is and will prosecute you and toss you in jail. I would rather pay the taxes than sit in jail to be honest. Truefan is right, ask Wesley Snipes how that defense worked out for him

  8. It is legal not to file returns? Really? That website link is about as good as those Nigerian oil emails I keep getting. I guess I just like to throw away money.
    As far as Vick’s tax return is concerned, I bet he filed for an extension as is typically done before a complicated BK is filed either individually or for an entity. If he did not even file for an extension that would be curious given the kind of advisors he has, but then again, anything is possible. Plus, it has to be hard to find an accountant with a subspecialty in itemizing dog torture, electrocution, and doggie death fights with a gambling twist. Sure glad I do not burden my tax advisors with such complications…

  9. Best of luck to those of you who believe they don’t have to file taxes. Let us know how it works out for you.
    After you prove your case in court, I’ll consider it.

  10. Good job, Mike. You posted a thread most likely to bring out the deranged and kooks in your readership — tax protesters and their shallow-minded, uneducated ilk.
    As for Vick’s failure-to-file, the government must prove that he was required to file a return and that the failure to file is ‘willful’ for them to succeed in any contemplated criminal proceedings. Seeing that he’s incarcerated and they’re controlling him and his actions, that’s going to be a bit tougher than getting him on the dog charges as they are, most likely, going to be contributing factor to his inability to file a timely return.
    Making it even tougher, either Mr. Vick is a debtor-in-possession or a full bankruptcy estate. The laws are not that complex in this issue, but, people are not familiar with them. The filing of a bankruptcy petition for an individual debtor under Chapter 7 or Chapter 11 of the bankruptcy code creates a separate taxable bankruptcy estate. The trustee (for Chapter 7 cases) or the debtor-in-possession (for Chapter 11 cases) is generally responsible for preparing and filing the estate’s tax returns and paying its taxes. The debtor remains responsible for filing returns and paying taxes on any income that does not belong to the estate.
    My experience tells me that Mr. Vick had many assets. They were registered under his SSAN. When he went bankrupt, these assets became part of the bankruptcy estate. HOWEVER, the income continued to be erroneously reported under his SSAN by third parties.
    Without a return to show the government that he had no income and it should be assigned to his bankruptcy estate under Claim of Right, the IRS is going to act on the erroneous third-party information. Even though the income may have very well been properly recorded on the bankruptcy estate’s return.
    If someone’s at fault, I’d start first with the trustee of the bankruptcy estate. He should have changed everything over to the bankruptcy’s estate TIN first thing. Unfortunately, most of them are lazy and sloppy thus creating problems, for which they generate additional billable hours…

  11. Considering his advisers were interested in appropriating his money for their own use, I can see them not wanting to give the federal goverment, their CONSTITUTIONALLY required amount.
    Do check the Constitutional clause listing one of the ennumerated powers of the Congress the right to tax, and the Amendment establishing the federal income tax. Then go ahead and say no law requires payment of taxes.

  12. Vick’s failure to file his tax return is a protest against the lack of a “rape stand exemption.” Vick’s tax protests are famous. For example, he threw his family pets to his pit bulls after he found out that he couldn’t claim the pets as dependents.
    Fight the power, Mike.

  13. Well, I have mixed feelings on the filing of tax returns. I skipped it one year, and nothing happened to me. I didn’t have IRS Agents busting down my door. On the other hand, there are a beavy of celebrities who have been taken down for tax evasion. Finally, a law that discriminates against rich people and leaves me the hell alone!

  14. People look at “not filing” and “not paying” as the same thing. They are not. The penalty for not filing is very little, it’s the penalties for not payong (or for filing an incorrect return) which are large. If you don’t file they fill one out for you and interpret *everything* in their favor: you know that stock you sold for $1000? That must be a full $1000 in profit! (brokerages don’t report purchases, only sales, so that the IRS can claim they know nothing.)
    Does anyone really think Vick made enough money in 2007, as his life was unravelling, to owe that kind of money? No. He probably owes some tax on investments he had to sell off to get money, but I would be willing to bet when all is said and done this will come to very little.

  15. I’ve filed my tax returns over a year late before. It isn’t a big deal. Many times you don’t even pay a fine – if you do it is generally very small. The IRS basically works on a 2-5 year backlog anyway, so generally you have quite a bit of time before they even come asking for a tax return. It is fairly standard operating procedure for accountants to delay filing a return in certain situations.

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