TaxProf Blog

Editor: Paul L. Caron
Pepperdine University School of Law

A Member of the Law Professor Blogs Network

Friday, March 9, 2012

Feds Sue Warren Buffett's Company for Unpaid Taxes; $1 Billion in Taxes at Stake

Bloomberg, Buffett’s NetJets Countersued by Government for Unpaid Taxes:

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.

http://taxprof.typepad.com/taxprof_blog/2012/03/feds-sue-.html

Tax | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341c4eab53ef0167639c6372970b

Listed below are links to weblogs that reference Feds Sue Warren Buffett's Company for Unpaid Taxes; $1 Billion in Taxes at Stake:

Comments

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