Foundation manager ordered to pay $460,000 back taxes

A private foundation manager charged with self-dealing transactions totaling about $46,000 and failing to pay his personal income taxes has been ordered to pay more than $460,000 to the Internal Revenue Service after failing to participate in the proceeding seeking to reduce the obligation to a formal judgment. A federal District Court in Texas has held that the IRS assessment is presumed to be correct and the taxpayer had not satisfied his obligation to prove it wrong.

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Foundation manager ordered to pay $460,000 back taxes

Foundation manager ordered to pay $460,000 back taxes