Attorney-at-Law

NOT A KEEPER

In Uncategorized on 08/03/2018 at 17:19

Patrick Combs, Docket No. 22748-14, filed 8/2/18, claims he’s a “kept man.” Though this earns him a designated hitter, it doesn’t impress Judge Mark V. Holmes, especially as Mr. Combs assigned about $300K in income over two years to his “keeper,” one Holcomb, who has troubles of his own.

“Two years ago Mr. Holcomb was indicted by a grand jury in the Southern District of California on charges including tax evasion, aiding or assisting in the preparation of false returns, and making false statements to financial institutions. See Indictment, United States v. Holcomb, No. 16-CR-01408-WQH (S.D. Cal. June 16, 2016), ECF No. 1. He recently had a jury trial and was found guilty on four counts of making a false statement to a financial institution. See Jury Verdict, Holcomb, No. 16-CR-01408-WQH, ECF No. 173. The court declared a mistrial with respect to the other charges. See Declaration of Mistrial, Holcomb, No. 16-CR-01408-WQH, ECF No. 172.” Order, at p. 2, footnote 1.

Mr. Kept Combs is apparently a monologist and real estate operator (sounds like one of my old clients, but none of them ever tried this dodge). He does make money, but he has what he calls an “epiphany.”

He says he gave all his money to Mr. Holcomb.

Except. “I own no monies and he owns all monies, I have no tax liability for any monies and he has all tax liability for all monies. Further, I am authorized by Robert Holcomb to spend his funds for my personal requirements as I see fit and he is the sole party liable for any taxes that may be due on whatever amount of money I personally spend. Therein lies the entire financial relationship between Robert Holcomb and myself.

“This goes to the very heart of why I chose to be one of Robert Holcomb’s fiduciaries in the first place. I am an artist (monologist) and there is no better space for an artist to be in other than one that frees him of all concerns relative to financial liability (income tax included), while at the same time being able to properly provide for himself and his family members. At the very core my private relationship with Robert Holcomb is one of ‘Artistic Patronage’ and that kind of relationship is as old as history itself. In simple straight forward speak; I am a ‘kept’ Man.” Order, at pp. 2-3.

Judge Holmes gently suggests to Mr. Kept Combs that this stuff gets a free Section 6673 frivolity chop, along with taxes due, nonfiling and nonpaying additions.

“He persisted.” Order, at p. 3.

Judge Holmes is reasonable. If Mr. Kept Combs comes clean and settles with IRS, the Section 6673 chop goes away.

Failing which, there will be a trial.

Definitely not a keeper.

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