Billionaire McCombs Told to Pay $45 Million by IRS

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The IRS is demanding $45 million in back taxes from San Antonio billionaire Billy Joe “Red” McCombs. The back taxes pertain to the tax years 2002 and 2003. The basis for the demand was a tax strategy that was disallowed by a judge, originally to billionaire Philip Anschutz.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

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