Sheen owed $5.7 million to the IRS, and offered to settle it for $1,240,000. When the IRS said no, he upped it to $3.1 million to cover three years. Then, the IRS started playing hard ball and Sheen went to Tax Court where he has just won saying the IRS abused its discretion.
Author Archive: Robert W. Wood, Senior Contributor
Amid Trump Passport Flap, Here’s How To Keep IRS From Taking Yours
Criminal defendants commonly have to surrender their passports as part of bail or other types of agreements, but Americans who owe the IRS more than $55,000 in back taxes can also have passport problems.
IRS To Add 87,000 New Agents, More Crypto Tax Enforcement
The Inflation Reduction Act sends more than $45 billion to the IRS for “enforcement.” The law says they’ll be specifically pursuing “digital asset monitoring and compliance activities,” apart from more general tax enforcement. The crypto tax hunt is on.
Alex Jones Gets $49.3M Tax Write Off, Plaintiffs Have To Pay IRS Tax On Verdict
A Texas jury rendered a verdict in Alex Jones’ defamation trial, ordering Jones to pay $45.2 million in punitive damages on top of $4.1 million in compensatory damages to Neil Heslin and Scarlett Lewis, the parents of a 6-year-old boy killed in the Sandy Hook school shooting.