Conrad Black Fined $71 million by IRS

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Former newspaper mogul Lord Conrad Black has been fined $71 million in back taxes, penalties and interest charges by the IRS after his conviction on fraud charges. Black is currently serving a 6 ½ year prison sentence in a federal penitentiary in Coleman, Florida. The unpaid taxes, penalties and interests are from the tax years 1998 to 2003. Black has filed a petition with the Tax Court April 15 to cancel the IRS assessment against him.

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