Baby got back taxes: Al Capone comparisons write themselves as the IRS asks Conrad Black for $71 million
Given Conrad Black’s recent legal victories, he’s probably getting all sorts of encouraging letters from well-wishers who look forward to his likely release. One item in the Post, though, was probably less welcome. The paper is reporting that the American IRS has assessed Black’s back taxes, and he owes $71 million.
Among other findings, the IRS said Lord Black failed to report and pay taxes on income stemming from personal use of Hollinger’s corporate jets, the use of corporate money to acquire the papers of former President Franklin D. Roosevelt and Roosevelt’s private secretary, and Hollinger’s 2000 purchase of a US$5.9-million New York apartment for his use.
The total bill, also reflecting income from alleged fraud-related thefts, came to US$46.5-million in unpaid taxes and US$24.2-million in penalties, according to Lord Black’s petition.
This seems like a bit of a stretch for the IRS, but with the reversal the feds suffered at the Supreme Court, they’d probably like to get at least a few mil out of l’affaire Black (though they must be asking themselves if the Baron even has $71 million left). Of course, the U.S. government has a long history of being stymied at a direct attack on a felon and then getting justice through the tax system. When somebody remakes The Untouchables, who will play Black? Is Albert Schultz still available?