Above The Law
Making a lot of money comes with some real obligations. No — not the ones Peter Singer lays out in Famine, Affluence, and Morality — the ones that really matter, like making sure the government gets a cut of your cash! Paying taxes and voting may both be civic duties, but deciding not file your taxes for a couple of years will get you locked up before not voting will. One very successful lawyer had to learn that the hard way. Reuters has coverage:
A former longtime general counsel to Moody’s was sentenced by a New Jersey federal judge on Thursday to 8 months in prison for willfully failing to file personal federal income tax returns.
Federal prosecutors said John Goggins earned $54 million between 2018 and 2021 and failed to file federal income taxes during those years. Goggins stepped down as Moody’s senior vice president and general counsel last fall.
A spokesperson for Mr. Goggins had this to say:
“Mr. Goggins deeply regrets and has accepted full responsibility for his failure to file his tax returns. He is grateful to the Court for considering the comprehensive measures of accountability and restitution he has taken in connection with his misdemeanor offenses. He looks forward to putting this matter behind him and will be timely filing all tax returns going forward.”
Remember, readers at home, if the IRS can get Capone, they can get you! The $3.1M in restitution was a mitigating factor in Goggins’s sentencing, but he’d have likely been better off if he just paid what he owed before it got to this point. Don’t let his punishment be yours too; file your damned taxes!
