Incline man charged with tax evasion

An Incline Village man has been indicted by Reno's federal grand jury on tax charges.

Paul Jensen was charged with presenting false claims to the IRS for more than $100,000 in tax refunds and failing to pay taxes on more than $500,000 in income.

Daniel G. Bogden, United States Attorney for the District of Nevada, said the indictment includes three counts of false claims and three of tax evasion. All are felonies.

Jensen submitted claims to the IRS requesting tax refunds for 1997-1999 totaling $117,956. The claims stated he and his spouse had no reportable income for those years when, in fact, they made $534,206. Jensen is also charged with failing to pay income tax in 2000, 2001 and 2002, even though he had taxable income totaling more than $500,000 during those years

IRS officials say he used offshore accounts and entities, transferred funds to a Swiss bank, put his home at Incline Village and his motor vehicles into trusts and claimed tax-exempt status as a minister among other actions to evade taxes.

If convicted, he faces up to five years in prison and a $250,000 fine on each of the six counts. He is free on a personal recognizance bond pending arraignment.