If only someone would letthose hardworking rich people off the hook once in a while:
Imprisoned former media baron Conrad M. Black is fighting a $71 million bill from theU.S. Internal Revenue Service, which says from 1998 to 2003 he filed no tax returns and paid absolutely nothing on $120 million in taxable income.
In a previously unreported lawsuit inU.S. Tax Court,
Black, now serving a six-and-a-half-year-sentence in a Florida federal
prison, is challenging the IRS’ demands and asserting the income in
question wasn’t taxable in the U.S.
Black is not the only convicted former top official of Hollinger being
pursued by the IRS. The agency says F. David Radler, publisher of theChicago Sun-Times
for most of Hollinger’s ownership, also failed to file returns for the
same years, paid zip on $111 million in taxable income and owes $66
million. After admitting fraud and testifying against Black, Radlerdrew a 29-month sentence
but was released after just 10 months. Now running a small newspaper
company in Canada, Radler also is fighting the IRS in his lawsuit just
filed inTax Court.
It’s a good thing they haven’t gone Galt or we’d all be really sorry now.