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Stanford has big tax bill

By Gerry W. Beyer

Stanford_allenAccording to IRS seeks $227 million in back taxes from Stanford, Yahoo!News, March 16, 2009:

The U.S. Internal Revenue Service has asked a judge to let it to continue to seek unpaid back taxes from Allen Stanford, the billionaire Texan accused of an $8 billion fraud by U.S. regulators, court documents show.

Stanford and his wife Susan owe the U.S. government $226.6 million in unpaid federal income taxes between 1999 and 2003, the IRS said in a filing with a federal court in Dallas on March 13.

Stanford’s tax debt could inflate even more as he hasn’t filed his income tax return for 2007, the IRS said.

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.

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Current Events and Income Tax