March 9, 2012
Feds Sue Warren Buffett's Company for Unpaid Taxes; $1 Billion in Taxes at Stake
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.
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So much for the so called "Buffet Rule." If he wanted to really demonstrate that the rich should pay more, he should drop the lawsuit and pay the $1B.
If you never see me post again it is because I held my breath too long.
Posted by: tax guy | Mar 10, 2012 2:23:35 AM
Tax guy's comment is silly. Buffett's "rule" applies only to individual taxpayers. Berkshire Hathaway is a public company with thousands of shareholders, including not-rich folks. He and his board have a fiduciary duty to have the company pay only the taxes that the law requires.
Posted by: Mitchell S. Fishman | Mar 12, 2012 5:51:48 PM