Ex-Charlotte Checkers Owner Michael Kahn Pleads Guilty To Tax Fraud Tied to Family Foundation – V 101.9 Charlotte

Ex-Charlotte Checkers Owner Michael Kahn Pleads Guilty To Tax Fraud Tied to Family Foundation  V 101.9 Charlotte

Michael Kahn, the former majority owner of the Charlotte Checkers, pleaded guilty to aiding and assisting in the preparation of a false income tax return. Kahn, 66, didn't declare more than $4.5 million that he moved from The Michael A. Kahn Family Foundation into his own account between 2020 and 2023, according to the U.S. Attorney's Office for Western North Carolina.Kahn was the foundation's only employee, serving as the organization's director, president, treasurer, secretary, and chairman of the board of directors. He started the group in 2010 as a tax-exempt organization "dedicated to advancing charitable, religious, and educational purposes."A grand jury indicted Kahn in January. It noted that he also didn't file his tax returns for 2022 and 2023, even though he received income exceeding $25,900 and $27,700 in those years, respectively."Tax fraud increases the tax burden on Americans who follow the rules," U.S.

Attorney Russ Ferguson said in the U.S. Attorney's Office for Western North Carolina's press statement. "While people have the right to use tax strategy to legally reduce their taxes, we will prosecute those who go beyond that and break the law."Special Agent in Charge Donald "Trey" Eakins of IRS Criminal Investigation's Charlotte Field Office also made a statement in the press release, commenting that, "Tax-exempt organizations are granted special status to serve charitable purposes, not to