ART ICON PETER MAX CHARGED WITH TAX FRAUD.Byline: The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times Peter Max, whose psychedelic psychedelic /psy·che·del·ic/ (si?ki-del´ik) 1. pertaining to or characterized by hallucinations, distortions of perception and awareness, and sometimes psychotic-like behavior. 2. a drug that produces such effects. pop art of the 1960s turned him into an art-world icon, was charged Wednesday with failing to report $1.1 million in art sales to the Internal Revenue Service. A federal grand jury in Manhattan also indicted INDICTED, practice. When a man is accused by a bill of indictment preferred by a grand jury, he is said to be indicted. Max, 58, on charges that he bartered his paintings as partial payment for homes in Woodstock, N.Y., and Southampton, N.Y., and in St. John in the U.S. Virgin Islands. The indictment says he failed to declare the ``sale'' of those paintings on his income tax returns. After discovering he was under criminal investigation in November 1990, the indictment charges, Max and his accountant Rubin Gorewitz, 71, tried to conceal income from the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. by drawing up phony sales receipts for the art that had been traded for real estate. If convicted, Max, who denied all charges, faces 30 years in prison and a $250,000 fine. |
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