Of course not.
The New York Law Journal reports here on the case of former Sullivan & Cromwell attorney John J. O'Brien, the man who failed to report more than $9 million in partnership income over the period 2003 to 2008. Here's an excerp from the NYLJ article:
The reason he initially fell behind, according to his lawyer, solo practitioner Russell T. Neufeld, was his involvement in a destructive relationship with his partner, Michael Phelps, who persuaded him to sink $3 million into Hudson Street Books, a rare books venture.
Mr. Phelps, Mr. Neufeld wrote in his sentencing memorandum, "is a very unstable, fragile and emotionally needy person" who was "particularly unstable" during the genesis of Mr. O'Brien's tax problems, on medication and prone to suicide threats and attempts.
"The business was a total failure and John O'Brien continued to pour bad money after good down its black hole—all in an effort to maintain his relationship with Michael and to try and keep Michael emotionally together," Mr. Neufeld wrote.
A psychologist who examined Mr. O'Brien for the defense concluded that "his persistent fear of losing Michael has caused him to become so overwrought with anxiety and depression that he lost his ability to make a rational choice."
Read the full NYLJ article here.
It sounds like Mr. O'Brien had plenty of other issues to confront, so the reporting (or perhaps the defense) may have over-emphasized the relationship troubles. If being in a dysfunctional relationship were an excuse for failing to report taxable income, very few tax returns would be filed at all!