Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Sleight of Hand Has IRS After Billionaire

Anschutz owes $143M on gains, feds say; he claims technicality

By Kevin Spak, Newser Staff

Posted Jun 9, 2008 1:45 PM CDT

(Newser) – The IRS is going after the US’ 41st-richest man, the Wall Street Journal reports, as part of a larger move to curtail one method of skirting capital-gains taxes. Philip Anshutz owes $143.6 million in back taxes on a “variable prepaid forward contract” deal... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Wall Street Journal (Source Grid »)

Wall Street starts laying election bets
CNN

Money

IRS • tax evasion • stock • capital gains tax • loopholes • Philip Anschutz

More Newser Stories

Facebook Co-Founder Gives Up US Citizenship

Eduardo Saverin aims to save on taxes

(NEWSER) - One of the billionaire co-founders of Facebook has renounced his US citizenship in a bid to slash his tax bill ahead of the gigantic IPO. Eduardo Saverin, 30, owns about 4% of the social network—a chunk that could be worth as much as $3.84 billion, reports Bloomberg . “Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,” says a spokesman for Saverin, who is a native of Brazil and met Mark Zuckerberg at Harvard. He moved to Singapore in 2009. More»

IRS to Lohan: We Want Our $93K

Lindsay apparently failed to pay taxes in 2009

(NEWSER) - Among the things overlooked on Lindsay Lohan's to-do list in 2009: rehab and paying taxes. TMZ reports that the IRS has obtained a $93,000 lien against the actress because she never got around to filing her federal return. If she doesn't pay up, the agency can seize any homes, cars, or cash that she has on hand, notes the website. Maybe the recent Playboy gig paid well? More»

12K Take IRS' Amnesty Deal for Offshore Loot

Agency pulls in $2.7 billion

(NEWSER) - Tax evaders are rushing to the IRS, cash in hand, thanks to a partial amnesty program aimed at recovering money in offshore bank accounts. In all 12,000 tax cheats came forward, the agency announced yesterday, bringing in a total of $2.7 billion. “The results we’re seeing today were unthinkable just a few short years ago,” IRS Commissioner Douglas Shulman tells Bloomberg , chalking it up to stepped-up enforcement efforts. More»

Kabbalah Centre at Heart of Tax Probe

Ex-CFO aims to 'bring down' operation

(NEWSER) - The Kabbalah Centre in Los Angeles is taking center stage as details emerge on a federal probe involving two of Madonna’s charities . The IRS is investigating whether the family in charge of the organization used its nonprofit dollars for personal gain, sources tell the Los Angeles Times . The Berg family, the Centre, and the singer’s Raising Malawi charity all face a grand jury probe. More»

Wesley Snipes Heading to Prison

Appeals panel upholds 3-year sentence on tax charges

(AP) - A federal appeals panel has upheld a three-year prison sentence on federal tax charges for film star Wesley Snipes. The 11th Circuit Court of Appeals in Atlanta concluded that the judge properly sentenced Snipes, who was convicted in 2008 of three counts of willful failure to file his returns. His attorneys argued the sentence was "unreasonable." More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Sleight of Hand Has IRS After Billionaire

Anschutz owes $143M on gains, feds say; he claims technicality

IRS • tax evasion • stock • capital gains tax • loopholes • Philip Anschutz

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Facebook Co-Founder Gives Up US Citizenship

Eduardo Saverin aims to save on taxes

IRS to Lohan: We Want Our $93K

Lindsay apparently failed to pay taxes in 2009

12K Take IRS' Amnesty Deal for Offshore Loot

Agency pulls in $2.7 billion

Kabbalah Centre at Heart of Tax Probe

Ex-CFO aims to 'bring down' operation

Wesley Snipes Heading to Prison

Appeals panel upholds 3-year sentence on tax charges

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?