False Prophet Found Guilty of Tax Evasion

By Terri Eyden

Ronald Weinland ‒ the "doomsday prophet ‒ was found guilty of federal tax evasion on June 13, 2012. It appears the jury didn't buy in to Weinland's excuse: he didn't pay his taxes because he believed the end of the world would soon be upon us.
However, apparently he did believe the money he funneled into the Swiss banking system would be spared from the "end of times."
Weinland runs a church from his home in Cincinnati, Ohio, and delivers sermons via the Internet. In 2006, he predicted the world would end September 30, 2008. When that didn't pan out for him, he changed the date to May 27, 2012. When May 27 came and went, he revised his calculation yet again - now it's May 19, 2013. 
During the trial, he was asked the question: If you thought the end of the world was near, would you pay your taxes? Weinland said he wouldn't.
And, indeed, Weinland avoided paying more than $357,065 in taxes between 2005 and 2010 by moving money into a foreign bank account, lying on his tax forms, and writing off personal expenses ‒ a stay at The Venetian hotel and casino in Las Vegas, tickets to the Blue Man Group, shopping trips to Nordstrom, a home security system, and more. Forbes reported that he lives in a $400,000 home, with closets full of expensive suits.

There's more on AWEB!

Do you have colleagues or clients who might like to receive the free AccountingWEB newsletter?
• Practice
• Education
• Tax
• A&A
• Technology
• Wealth Management

Weinland was found guilty on five counts of tax evasion, according to Northern Kentucky News, and was put on house arrest after posting a $300,000 bond. He'll be sentenced September 24 and faces five years in prison. 

Related articles:


You may like these other stories...

The IRS cautions freelancers and other self-employed individuals to stay on top of the deadlines for filing federal tax returns and the due dates for making payments. Miss just one, says the IRS, and it might exact a sizable...
Bipartisan Cooperation on Tax Refund FraudAs noted in Politico, Senators Wyden and Hatch have introduced a tax refund fraud bill. According to a summary from Senator Hatch's office, the bill would enhance "the...
Camp Hopes Estate Tax Will Be on Its Way OutAn article in Bloomberg said that Republicans are considering voting this year to repeal the U.S. estate tax, according to House Ways and Means Chairman Dave Camp (R.-Mich.). He...

Upcoming CPE Webinars

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.