- 17 -
Throughout the years in issue and continuing to the present,
Mr. Richardson made all of the day-to-day investment decisions
with respect to, controlled all of the assets being held by, and
had complete supervisory control over HGAMC and HGRCT.
Tax Reporting
For each of the years in issue, petitioners filed: (1) A
joint Form 1040, U.S. Individual Income Tax Return, for
themselves and including a Schedule C, Profit or Loss From
Business, for Asset Protection Services; (2) a Form 1041, U.S.
Income Tax Return for Estates and Trusts, for HGAMC; and (3) a
Form 990-PF, Return of Private Foundation or Section 4947(a)(1)
Nonexempt Charitable Trust Treated as a Private Foundation, for
HGRCT. Wilson M. Graham (Mr. Graham) of Graham & Associates
signed each of the foregoing returns, except the 1996 Form 1040,
as preparer. Mitchell Graham, also of Graham & Associates and
Mr. Graham’s son, signed the 1996 Form 1040.7 As indicated by
the workshop announcements quoted above, Mr. Graham was involved
in promotion of the Aegis trust system. The 1996 Form 1040 was
filed on April 15, 1997, and the 1997 Form 1040 was filed on
September 23, 1998.
7 Mr. Graham was formerly licensed as a certified public
accountant in the State of Ohio, but his license was revoked in
1994. No evidence reflects that Mitchell Graham was at any time
licensed as a C.P.A., and testimony indicated that he was not.
Page: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 NextLast modified: May 25, 2011