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Tax season.

With tax season in full swing, the federal government wanted to make sure that a former Berryville man isn't up to any tax funny business.

Uncle Sam sued Wayne Hicks, 54, recently in U.S. District Court to prevent him from having any part in promoting or selling any plan that helps people dodge taxes.

Within a week of government filing the lawsuit, Hicks signed a consent order agreeing to the government's demands and waiving all rights to appeal.

Even though Hicks is serving a five-year federal prison sentence after pleading guilty to a federal tax crime, the government was worried about him. He's the man behind My Icis Inc. and Americans for Lawful Financial Independence & Freedom, both of Berryville.

Between April 2003 and October 2006, members of the company anonymously deposited approximately $100 million in the company's accounts to sidestep paying taxes, the lawsuit said.

Hicks admitted that the banking scheme caused losses to the government of between $7 million and $20 million.

Hicks also promoted seminars where he told attendees how to evade federal income tax by using warehouse banks, offshore tax havens and other illegal techniques.

The government wanted a permanent injunction against Hicks because his conduct "causes irreparable harm to the United States and to the public for which there is no adequate remedy at law," the lawsuit said.

He is scheduled to be released on July 23, 2013.

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Title Annotation:WHISPERS
Publication:Arkansas Business
Article Type:Brief article
Date:Apr 5, 2010
Words:233
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