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Colorado Man’s $45M Tax Shelter Scam Hits the Wall
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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...
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