Did You Know...

   

US Government Countersues Warren Buffett Company Over Unpaid Taxes

Share
By Doug Powers  •  March 10, 2012 02:01 PM

**Written by Doug Powers

There’s an awful lot of legal wrangling and arm twisting going on here considering this is a company owned by a man who spends a great deal of time begging the government to make him pay more in taxes.

From Bloomberg News:

NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc., was countersued by the U.S. over $366 million in taxes and penalties.

NetJets in November sued the U.S., saying the federal government had wrongly imposed taxes, interest and penalties totaling more than $642.7 million.

Claiming the federal Internal Revenue Service wrongfully assessed a so-called ticket tax — an excise tax on payments made in exchange for air transportation — to private aircraft owners maintaining their own planes, the Columbus, Ohio-based company demanded refunds and abatements.

The federal government, in a revised answer and countersuit filed yesterday in federal court in Columbus, rejected NetJets’ claims and alleged that four of the company’s units owe unpaid taxes and penalties.

While Warren Buffett is leading the charge to make it look like he wants to pay more of his personal income in taxes, his companies are paying lobbyists a lot of money to try and lower their taxes. Maybe his revised “Buffett Rule” should be putting a stop to both and calling it even. Don’t hold your breath.

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus
Posted in: Politics

Obama admin: Honor the spirit of Independence Day by convincing your family this gov’t mandate is awesome

July 3, 2015 06:55 AM by Doug Powers

founders

“We hold these mandates to be self-evident”

Activist worlds collide: Anti-cop demonstrator protected by police

July 2, 2015 07:38 PM by Doug Powers

murdock1

“Irony can be pretty ironic sometimes”

Feel the Bern, Hillary! Packed house in Madison, WI cheers Bernie Sanders’ plan to turn US into Greece

July 1, 2015 09:19 PM by Doug Powers

sanders

Socialist-mentum!

Fanning the flames of another black church arson hoax

July 1, 2015 08:06 AM by Michelle Malkin

State Dept’s dump of Hillary’s emails re-confirms what we already knew: David Axelrod’s a liar

June 30, 2015 10:53 PM by Doug Powers

axelrod

Hillary’s going long on red herring futures


Categories: 2016 Campaign, Corruption, Democrats, Hillary Clinton

Follow me on Twitter Follow me on Facebook