Uh oh. Apparently, Lori Loughlin and Mossimo Giannulli are now facing an audit from the IRS because of their alleged involvement in the college admissions scandal, Us Weekly reported April 18. An insider revealed to the outlet, “They are being audited for five years on their personal income taxes, along with three years for Mossimo’s business,” because the duo allegedly wrote off William “Rick” Singer’s alleged scam services as a deduction. And now it might come back to haunt them.
Loughlin, 54, and Giannulli, 55, were indicted — along with several other parents — on March 12 on charges related to a nationwide college admissions cheating scam. They allegedly “agreed to pay bribes totaling 500,000 in exchange for having their two daughters [20-year-old daughter Isabella and 19-year-old daughter Olivia] designated as recruits to the USC crew team — despite the fact that they did not participate in crew — thereby facilitating their admission to USC.” If they did write those services off, we can see how the IRS could take issue with the action.
On Monday, April 15, Loughlin and Giannulli filed pleas in the case and pleaded not guilty to all charges. They were also hit with more charges on April 9. Filings in the plea obtained by In Touch in regards to the actress read, “Ms. Loughlin and her counsel affirm that Ms. Loughlin has received a copy of the Second Superseding Indictment and that Ms. Loughlin pleads not guilty to each of the charges against her.” Her husband’s also noted, “Mr. Giannulli pleads not guilty to each of the charges against him.”
Loughlin’s friends apparently think that her husband is the one to blame for getting them into this mess — although frankly, the IRS probably won’t care if the agency does indeed investigate the married couple’s recent tax filings. “Everyone feels bad for her,” an insider explained to Us Weekly. “They think the situation was something concocted by her husband.”
Loughlin and Giannulli could face up to 20 years in prison if they are found guilty. An audit is another consequence they probably didn’t want to deal with on top of that stress.
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