Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
Colorado Man’s $45M Tax Shelter Scam Hits the Wall
Join our 250K+ subscribers
Join our 250K+ subscribers
Subscribe11 AUG 2025 / ACCOUNTING & TAXES
Timothy McPhee, from Estes Park, Colorado, has pled guilty to multiple charges associated with a high-profile tax evasion scheme he conducted from 2018 to 2023. He designed elaborate trust structures, enabling clients to hide taxable income and his own fraudulent activities resulted in $45m in unpaid taxes and $8m in investor losses. McPhee’s case forms part of a rising trend of tax fraud prosecutions and serves as a warning sign to professionals in the industry of the increasingly aggressive enforcement from the IRS.
It started with a promise: keep nearly all your income out of the IRS’s reach while still enjoying every penny. Timothy McPhee of Estes Park, Colorado, sold that dream from 2018 to 2023 through a web of trusts and a private family foundation. His pitch ha...
Until next time…
Don’t forget to share this story on LinkedIn, X and Facebook
Subscribe now for $199 and get unlimited access to MYCPE ONE, from CPE credits to insights Magazine
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
Website Services for CPA & Accounting Firms - Starting $69/month.
Is your website attracting clients-or turning them away? MYCPE ONE’s Website Development Services, starting at just $69/month, create high-converting, professional websites tailored for accounting firms like yours.
With over 400 designs to choose from and a dedicated webmaster, we handle it all for you-no DIY required.
Get started today and create a website that works for your firm with MYCPE ONE!
Make a lasting impression. Boost conversions. Stay secure.
You’ve reached the 3 free-content piece limit. Unlock unlimited access to all News & CPE resources.
Subscribe Today.
Already have an account?
Sign In
-1783514395.webp)
