Oklahoma tax authority scopes MySpace for tax cheats

By Amy Bennett  Add a new comment

Kegheadz, an Oklahoma party-planning service run by college students, told the local tax authorities that they'd planned fewer than 20 parties over the past two years, netting less than $2,000 in profits. But the company's MySpace page told a much different -- and much more lucrative -- story, and now the state has sent the founders a tax bill for $320,000. The young party planners are launching a novel defense: that everything people put on their MySpace account is a dirty lie that's full of hype and exaggeration. Read more...

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