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Author Topic: IRS got The Lord of the Pies  (Read 1927 times)

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Offline apizza

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IRS got The Lord of the Pies
« on: October 26, 2018, 08:26:46 AM »
In my local paper

The Pizza Napoletana Margherita at Amore in Stamford, owned by Bruno DiFabio. (Tom McGovern)
The Pizza Napoletana Margherita at Amore in Stamford, owned by Bruno DiFabio. (Tom McGovern)
Dave Altimari   Dave AltimariContact Reporter
A nationally known pizza maker referred to as “the Lord of the Pies,” who owns several restaurants named Pinocchio, plead guilty Thursday in federal court to tax evasion.

Bruno DiFabio of Ridgefield plead guilty to failing to report more than $800,000 in cash receipts from his pizza empire to the Internal Revenue Service from 2013-2015.

DiFabio owns a chain of mostly pizza restaurants under the business moniker Pinocchio Pizza LLC in New Canaan, Wilton and Scarsdale, NY. He also owns other restaurants in Stamford, Greenwich and Pound Ridge, NY
Marty

Offline jkb

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Re: IRS got The Lord of the Pies
« Reply #1 on: October 26, 2018, 02:47:48 PM »
Tax cheats have no respect for their employees.
John

Offline apizza

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Re: IRS got The Lord of the Pies
« Reply #2 on: October 26, 2018, 03:40:36 PM »
It appears full story didn't copy. Second attempt.


A nationally known pizza maker referred to as “the Lord of the Pies,” who owns several restaurants named Pinocchio, plead guilty Thursday in federal court to tax evasion.

Bruno DiFabio of Ridgefield plead guilty to failing to report more than $800,000 in cash receipts from his pizza empire to the Internal Revenue Service from 2013-2015.

DiFabio owns a chain of mostly pizza restaurants under the business moniker Pinocchio Pizza LLC in New Canaan, Wilton and Scarsdale, NY. He also owns other restaurants in Stamford, Greenwich and Pound Ridge, NY.

Amore Cucina: World-Class Pies From A Pizza Geek »

DiFabio, nicknamed "The Lord of the Pies," has appeared on the Food Network and has been a judge on the show Chopped.

Federal authorities allege that over three years DiFabio and others connected to his businesses removed cash from registers and failed to deposit it into the restaurant’s operating bank account used by outside bookkeepers and accountants to determine gross receipts.

The cash was not reported to the IRS, according to court documents. DiFabio also knew that certain employees were paid either a portion or the entirety of their wages “off the books,” authorities said.

As a result of the scheme, the loss to the IRS in income taxes and employment taxes for the 2013 through 2015 tax years was $816,954, authorities said.

DiFabio pleaded guilty to one count of conspiracy to file false income tax returns and payroll tax returns. When he is sentenced, he faces a maximum term of imprisonment of five years, a fine of up to approximately $1.6 million, and full restitution to the IRS.

DiFabio was released after posting $100,000 bail. Sentencing has not been scheduled.

On September 24, DiFabio’s business partner, Steven Cioffi, pleaded guilty to one count of aiding and assisting in the filing of a false tax return. He also awaits sentencing.

This investigation is being conducted by the Internal Revenue Service, Criminal Investigation Division. The case is being prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.
Marty

Offline foreplease

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Re: IRS got The Lord of the Pies
« Reply #3 on: October 26, 2018, 06:45:20 PM »
Seems to be two different things going on here, neither one of them good. I was taught that you can go to prison for lying about your income but not your deductions - that you would first have an opportunity to file a corrected or ammended return. I have always been a very straight shooter in this regard. Been extensively audited twice and while it was inconvenient it didn’t cost me anything. Well, $110 the first time, after they spent 7 full days in my office, and zero the second time.


You can certainly get in a lot of trouble for failing to remit taxes withheld from employees checks. That is a horrible offense. Many feel either pushed into or that it is a free long term loan. It is hard to make it in a small business doing everything legitimately. However, it is even harder trying to compete with someone operating illegitimately if you are playing by the rules yourself. This case is north of $700/day in unreported income. There is a word for that...

-Tony

Offline politon

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Re: IRS got The Lord of the Pies
« Reply #4 on: February 02, 2022, 10:52:51 AM »

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Offline wotavidone

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Re: IRS got The Lord of the Pies
« Reply #5 on: February 02, 2022, 08:45:16 PM »
Whenever tax gets discussed, I think of the late great billionaire Kerry Packer telling a Senate committee what he thought of Australian Tax Law.



From a 1998 report:
"After a seven-year legal battle, Australia's richest man, Kerry Packer, won a Federal Court ruling absolving him of paying any personal income tax for the three-year period 1990-92. Packer, who owns Australian Consolidated Press and runs a media and gambling casino empire, has a personal fortune of over $A5 billion. Last financial year, he made an average of $3.56 million per day.

The Australian Taxation Office (ATO) pursued a variety of charges against Packer and Consolidated Press--principally that they had organised their financial affairs to avoid paying tax. In relation to Consolidated Press, the court ultimately excluded about $500 million from its taxable income for the 1990 and 1991 tax years. In effect, the company will pay only $25,000 in tax for the two years--giving Packer a windfall of some $218 million.

That was not all. Packer also won a $40 million victory on his personal income tax. Before the opening of the court hearing last month, the ATO dropped its bid to recover that amount for his earnings over three years between 1990 and 1992. Incredibly it offered Packer a settlement in which he would pay just $2.87 in tax for 1990, $6.56 for 1991 and $21.12 for 1992. Even that was too much for Packer. He refused the offer."
« Last Edit: February 02, 2022, 09:08:06 PM by wotavidone »
Mick

Offline itsbacl

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Re: IRS got The Lord of the Pies
« Reply #6 on: July 25, 2022, 05:27:25 AM »
The nationally known pizza maker referred to as “the Lord of the Pies,” who owns several restaurants named Pinocchio, pleaded guilty in federal court to tax evasion

Offline itsbacl

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Re: IRS got The Lord of the Pies
« Reply #7 on: August 02, 2022, 07:47:03 AM »
Bruno DiFabio of Ridgefield pleads guilty to failing to report more than $800,000 in cash receipts from his pizza empire to the Internal Revenue Service from 2013-2015. The other side is that people can do the same unconsciously, but because the amounts are too small, no one comes after you. It is also why I always recommend using real check stubs.

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