Ultimate Fighting Championship Hall of Famer Royce Gracie is reportedly preparing for one the biggest fights in his life; however, this one is not martial arts-related. Gracie and his wife have been accused of tax evasion and are battling the IRS regarding the federal criminal allegations against them. The alleged fraud of which the Gracies are accused amounts to more than $1 million in owed tax monies. UFC fans in Pennsylvania and throughout the nation will likely be interested in an update on the situation.
One of the issues the professional martial artist is addressing is whether he rightfully claimed a credit for poor income families on his tax form. Officials claim that there is also money in multiple foreign bank accounts carrying the Gracies’ signatures as account-holders that was not disclosed for tax purposes as it should have been. An investigation by the IRS regarding the couple’s foreign investment and banking practices was reportedly begun in 2012 and later included a review of tax information from 2007 through 201 as well.
In their own defense, the Gracies apparently filed a petition in a U.S. Tax Court claiming that the Internal Revenue Service has acted erroneously in several ways by accusing them of fraud. The petition asserts that the IRS incorrectly claimed an increase in the Gracies’ annual incomes each year. The petition also states that the statute of limitations has expired for the tax years of 2007 through 2011.
Royce Gracie fans who are anxiously awaiting his scheduled comeback fight in February are also likely eager to learn how his alleged tax evasion issues will be resolved. In Pennsylvania, someone facing similar charges would be able to obtain legal help by contacting an experienced criminal defense attorney. Those who have successfully litigated federal felony cases would be able to guide one through the process of building a strong defense against tax-related charges in preparation for impending court proceedings.
Source: bloodyelbow.com, “IRS goes after Royce Gracie claiming tax underpayment, fraud totaling $1.15 million“, Paul Gift, Jan. 11, 2016