Xélan Clients: Call Your Tax Attorney

symtym has an excellent review of the collapse of a financial investment company called Xélan, which markets itself to physycians.

A brief quote:

WASHINGTON — A judge ordered more than $500 million in investment accounts frozen as the Justice Department probes charges of tax avoidance involving a company that markets tax-savings plans to doctors.

The Internal Revenue Service estimates that some 4,000 doctors are involved in what it called a fraudulent tax-reduction scheme, and they could owe as much as $420 million in taxes plus interest and penalties, Justice Department officials said. That works out to more than $100,000 per taxpayer.

Like nearly every doctor, I have gotten dozens of very slick solicitations from Xélan in the mail asking me to ‘come to a seminar, and learn how to save money’, etc. I know a doc or two who use their services, and hope they’re in the clear on this.

As a general rule, I am very leery of ‘sounds too goo to be true’, especially when it comes to tax avoidance schemes. Now I know why.

Go and read symtym’s entry, it’s very well done.

Down Under Humor

Feet First

The questions below are about Australia, are from potential visitors.

They were posted on an Australian Tourism Website and the answers are the actual responses by the website officials, who obviously have a sense of humour.

Q: Does it ever get windy in Australia? I have never seen it rain on TV, so how do the plants grow? (UK).

A: We import all plants fully grown and then just sit around watching them die.

Go, read the rest, see if you laugh like an idiot me.

Dr. Rangel and the Medblogs Election Roundup

RangelMD.com has looked into the medical blogs and their reactions to / posting about the latest election. (There was recently an election: those of you getting your news only from this blog may not have noticed. You’re welcome).

He’s outdone himself, and this will no doubt be his entry into this next weeks’ Medblogs Grand Rounds!